Google may join forces with Blackstone to form a new AI cloud company

On May 19th, it was reported that Alphabet's Google and Blackstone Group plan to establish an artificial intelligence (AI) cloud computing company using Google's dedicated chips. Blackstone will provide $5 billion in equity capital and become the majority shareholder of the new company, while Google will provide hardware for the new company, including TPU dedicated chips, as well as software and services. The new company plans to achieve 500 megawatts of computing power by 2027 and significantly increase computing power over time.