Blackstone Eyes $2 Billion IPO for Data-Center Acquisition Vehicle to Lead AI Infrastructure Growth

Alternative asset manager Blackstone is considering a $2 billion initial public offering (IPO) for an acquisition company that would buy data centers, Bloomberg reported Friday (April 10), citing unnamed sources.

Potential IPO timeline and status

Blackstone filed paperwork confidentially with U.S. regulators earlier this year and could begin formal marketing of the offering as soon as this month, according to the report.

The offering has not been finalized, and its timing and structure could change, the report said.

Blackstone did not immediately respond to a request for comment.

Rationale: AI infrastructure demand

Bloomberg reported that Blackstone has invested tens of billions of dollars in data centers and related infrastructure. The firm aims to become the world’s biggest investor in AI infrastructure, and the proposed offering would allow shareholders to participate in the AI boom, the report said.

Broader market context: data center constraints

Earlier this month, it was reported (April 1) that as demand for AI services continues to surge, companies are facing a shortage of data center space that is restraining their business.

When Microsoft paused some development of data centers in spring 2025, the company was surprised to see demand for AI services accelerate beyond its ability to provide them.

Other companies including Meta, Google and Amazon have said they plan to spend tens of billions of dollars more this year than they expected to meet demand for AI.

Power shortages and capacity limits

Amazon CEO Andy Jassy said in a 2025 letter to shareholders posted Thursday (April 9) that Amazon Web Services (AWS) is leaving revenue on the table due to power shortages.

Jassy said that even though AWS added 3.9 gigawatts of new power capacity last year, “we still have capacity constraints that yield unserved demand,” according to the letter.

Blackstone’s investment focus on AI risks

In a report from October 2025, Blackstone President and Chief Operating Officer Jonathan Gray said investors are discounting the potential of AI to render whole industries obsolete, and that understanding these risks has become key for Blackstone when considering investments.

“We’ve told our credit and equity teams: Address AI on the first pages of your investment memos,” Gray said at the Financial Times’ Private Capital Summit in London.