Investing in AI: The Megatrend of Megatrends

Artificial intelligence will transform the ways we live and work. At Blackstone, we see AI-enablement as a long-term investment theme and a tool for building stronger businesses.

Scale Matters

All AI relies on data – a resource that Blackstone, as the world’s largest alternative asset manager, has in abundance.

The volume of private market data in our portfolio equips us to spot trends early and invest when we have conviction.

Portfolio Companies[1]

230+

Real Estate Assets[2]

~12,500

Annual Portfolio Revenue[1]

$225B+

1. As of December 31, 2023.
2. As of March 31, 2024.

News & Insights

In the News on AI

WSJ: How Wall Street Lenders Are Betting Big on the AI Boom

Explosive growth in AI requires significant capital. Blackstone is proud to expand its existing partnership with CoreWeave, investing behind some of its highest conviction themes, AI and digital infrastructure.

WSJ: AI’s Unlikely Benefactor

The Wall Street Journal dives into Blackstone Chairman, CEO, and Co-Founder, Steve Schwarzman’s foresight on AI – from a bus ride in Beijing to one of today’s unlikely champions.

Business Insider: Big insurance companies want more private credit. Here’s how Blackstone is using AI to win them over

Blackstone CTO John Stecher explains how Blackstone aims to use AI to give insurance clients an edge.

Private Funds CFO: What generative AI means for private equity

Blackstone CTO John Stecher explains why we believe generative AI can enhance private equity dealmaking.


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San Antonio Express News: Blackstone exec talks artificial intelligence, cybersecurity and San Antonio

Blackstone Chief Technology Officer John Stecher discusses how we seek to leverage artificial intelligence to help increase efficiency and optimize performance internally and across our portfolio.


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CNBC Squawkbox: “Part of Everyone’s Life”

Blackstone Chairman, CEO and Co-Founder Steve Schwarzman discusses why AI is “one of the most exciting developments of a lifetime” and how Blackstone is preparing for the changes it will unleash across the economy.


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Bloomberg: Blackstone Has been Focusing on AI

Blackstone Chief Financial Officer Michael Chae shares why we believe AI will further the advantages of private market investing.

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Bloomberg: Blackstone Is Using AI to Control Diabetes and Slash Spending on Drugs

Andreas Mang, CEO of Blackstone’s Equity Healthcare, explains how we’re using an AI-powered app designed by startup Twin Health to help portfolio company employees manage diabetes without the use of expensive drugs.


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Investment Examples

Blackstone Infrastructure and Real Estate acquired QTS for approximately $10 billion in 2021 – the largest transaction in data center history at the time and a testament to our long-term conviction in the space. We are partnering with QTS to support its rapid growth: the company signed more leases in 2023 alone than in the 17 years prior to our acquisition.

In 2021, Blackstone Growth invested in Vectra, which uses AI to stop in-progress cyberattacks in the cloud. Vectra has a large runway for growth and Blackstone is equipping the company with capital, product expertise and introductions within the portfolio to fuel its next chapter.

In 2023, Blackstone Innovations Investments backed 73 Strings, a startup whose AI-driven solution helps investors with automated portfolio monitoring and valuation processes for equity and credit assets. As the alternatives industry grows and new investment products emerge, investors increasingly need solutions that equip them to efficiently and accurately manage these workstreams. We saw an opportunity to help 73 Strings fulfill this need, and to partner with the company to accelerate their expansion and product development.

In 2021, Blackstone Growth invested in Ontra, which builds AI-powered solutions that digitally transform legal workflows in the private investment industry. With support from Blackstone Data Science, Ontra has further elevated the AI solutions it offers, most recently integrating OpenAI’s GPT-4 model into Ontra Synapse, the AI engine that powers Ontra’s products. We are excited to see how the output of the investment will allow private equity firms to achieve new levels of productivity and success.