product · May 20, 2026
Google and Blackstone Form AI Cloud Venture Targeting 500 MW Capacity
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Google and Blackstone launched a joint venture on May 19, 2026 to build a TPU-focused cloud with Blackstone committing $5 billion. The venture plans to bring 500 megawatts of capacity online in 2027. CoreWeave shares fell 3.8 percent and Nebius shares fell 1 percent following the announcement. Bernstein analyst Madison Rezaei noted the move increases competition that could pressure CoreWeave pricing and margins on new deals. Blackstone previously led CoreWeave financing rounds.
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