Blackstone Plans Sharp Increase in Google TPU Purchases, Several Times Earlier Target

In May 2026, Blackstone announced the formation of a United States joint venture with Google to provide data center capacity, operations, networking and Google Cloud TPUs, offering TPU computing power to customers under a computing-as-a-service model. Blackstone said at the time that it would make an initial USD 5 billion equity investment, targeting 500 megawatts of data center capacity online in 2027, with plans for substantial expansion thereafter. By supplying its in-house TPUs, Google is pushing its AI chips further toward customers outside Google Cloud.

In September 2026, the number of Google tensor processing units Blackstone plans to purchase will be far higher than the scale disclosed when the joint venture with Google was announced in May 2026. The additional volume Blackstone is seeking reaches several times the earlier plan. Blackstone declined to comment on specific purchase numbers. Blackstone manages more than USD 1.3 trillion in assets and has investments in infrastructure including data centers and energy.

The head of Google's cloud business said the scale of Google's AI accelerator chip business is already more than twice that of its closest cloud computing competitor. Google began including third-party TPU sales in cloud business revenue in 2026 and is expanding TPU commercialization through leasing, direct sales and its joint venture with Blackstone.