Blackstone is planning to invest tens of billions of dollars to secure massive amounts of Google’s custom TPU chip capacity, a dramatic escalation from the initial $5 billion commitment announced in May 2026. The private equity giant and Alphabet created a joint venture called Crux AI (formerly Project Braid), positioning the two companies as direct competitors to CoreWeave in the market for renting compute capacity to AI developers. With leverage factored in, total investment was projected to reach roughly $25 billion to deliver 500 megawatts of data center capacity by 2027. However, the project has faced significant hurdles: power availability issues, permitting delays and construction timeline slippage have affected several sites, and a planned project in Wyoming was canceled outright.
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