Blackstone files $2B IPO to capitalize on AI infrastructure boom amid data center shortages

Blackstone Files for IPO of Data Center Acquisition Firm

Blackstone Inc. filed for an initial public offering of a new data-center acquisition vehicle that plans to buy already-built and leased properties benefiting from the artificial intelligence boom. The new vehicle, Blackstone Digital Infrastructure Trust Inc., will target newly built data centers valued at between $250 million and $1.5 billion and leased to investment-grade hyperscalers, according to its filing Friday with the US Securities and Exchange Commission. The properties are expected to yield 5.75% to 7% a year, or more, and the rent would automatically rise by 2% to 3% annually, the filing said. Blackstone plans to raise about $2 billion from the IPO, which could begin formal marketing later this month, Bloomberg reported earlier Friday. The firm has already approached sovereign wealth funds and other institutions for the first checks, aiming eventually to raise tens of billions of dollars from a broader group of investors. Get the Markets Daily newsletter. Get the Markets Daily newsletter. Get the Markets Daily newsletter. What's happening in stocks, bonds, currencies and commodities right now. What's happening in stocks, bonds, currencies and commodities right now. What's happening in stocks, bonds, currencies and commodities right now. Plus Signed UpPlus Sign UpPlus Sign Up By continuing, I agree to the Privacy Policy and Terms of Service. The move encapsulates two of the $1.3 trillion alternative-asset manager's biggest initiatives: its bid to become the world's largest investor in AI infrastructure and its push beyond pensions and endowments to reach individual investors. The offering also builds on Blackstone's broader push into data centers. The firm's roughly $25 billion bet on the sector has become one of its biggest plays on the artificial intelligence boom, underscoring how AI infrastructure requires vast amounts of land, power and capital. The vehicle, structured as a real estate investment trust, will be externally managed by a Blackstone-affiliated entity in return for base and incentive fees and will have priority over other Blackstone funds for data-center acquisitions sourced by the firm. Another affiliate is also expected to purchase shares in the IPO, according to the filing. The offering is being led by Goldman Sachs Group Inc., Citigroup Inc., Morgan Stanley, Barclays Plc, Bank of America Corp., Deutsche Bank AG, JPMorgan Chase & Co., Royal Bank of Canada and Wells Fargo & Co. The company expects its shares to trade on the New York Stock Exchange under the symbol BXDC.

Blackstone Accelerates Push to Lead AI Infrastructure Boom | PYMNTS.com

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, per the report. Blackstone did not immediately reply to PYMNTS' request for comment. According to the report, 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 this offering would enable shareholders to bet on the AI boom. It was reported April 1 that as the 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 the demand for AI services race past its ability to provide them. Other companies such as Meta, Google and Amazon recently said they plan to spend tens of billions of dollars more this year than they expected to meet the demand for AI. PYMNTS reported March 24 that AI companies are now managing consumer demand by rationing via usage 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. Even though AWS added 3.9 gigawatts of new power capacity last year, "we still have capacity constraints that yield unserved demand," Jassy said in the letter. It was reported in October 2025 that Blackstone President and Chief Operating Officer Jonathan Gray said that 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.