Google and Blackstone Inc. (BX.US) plan to establish a joint venture AI cloud company to vie with companies such as CoreWeave, Inc. (CRWV.US), according to the Wall Street Journal.

Blackstone Inc. will provide USD5 billion in equity capital and hold a majority stake, with the venture expected to support approximately USD25 billion in computing power investments.

The joint venture will adopt Google's proprietary chips with an aim to achieve 500 megawatts of computing power by next year, roughly equivalent to the electricity consumption of a mid-sized city. Over time, the company will sharply expand its computing capacity.

Google will provide hardware, software and services to the joint venture, while senior Google executive Benjamin Treynor Sloss will serve as the new company's CEO.
~

AASTOCKS Financial News
Website: www.aastocks.com

SG Top Picks
Stock & Type	Code	Strike(Call Level)	Last	Effective Gearing
ALPBE (C)	10080	360 (-)	0.640	7.0 X