Blackstone CEO Highlights AI as a Major Growth Driver
Blackstone Inc. reported second-quarter results exceeding Wall Street expectations, driven by strong fee-related earnings and AI-focused investments. Distributable earnings came in at $1.52 per share compared to the estimated $1.35, with total segment revenue reaching $3.80 billion versus a projected $3.46 billion. Chairman and CEO Stephen Schwarzman emphasized that Blackstone's strategic focus on artificial intelligence is delivering standout performance across multiple investment strategies. The firm has become one of the largest private capital providers in AI through investments in data centers, energy infrastructure, and frontier AI companies. Its data center platform now holds $185 billion in total value. Blackstone also announced several AI-related partnerships during the quarter, including collaborations with Google and Anthropic to develop enterprise AI solutions. The firm declared a quarterly dividend of $1.29 per share and reported strong cash reserves.
Topics: Artificial Intelligence Fee-Related Earnings Investment Performance Management and Advisory Fees