Google partners with Blackstone to create an AI cloud company, targeting CoreWeave

According to The Wall Street Journal, Alphabet's Google and Blackstone plan to jointly create an artificial intelligence cloud company, centered around Google's proprietary chips, directly competing with rivals like CoreWeave. Blackstone will invest $5 billion in equity capital and hold a majority stake in the company. The deal was officially announced on Monday local time, and the name of the new company has not yet been disclosed.