Blackstone Launches AI Data Center Platform and Bids for Volkswagen's Everllence SE
Blackstone is creating a publicly traded platform for AI data center investments, targeting capital from sovereign wealth and institutional investors. The firm is also competing with Brookfield Asset Management for a controlling stake in Volkswagen's Everllence SE division, alongside other bidders. Additionally, Blackstone Life Sciences has partnered with Johnson & Johnson to co-fund the clinical progression of an experimental leukemia treatment. RBC Capital initiated coverage of Blackstone with an Outperform rating and a $179 price target.
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Blackstone is launching a publicly traded acquisition platform focused on AI data center assets, aiming to democratize investment in AI infrastructure. The initial phase will secure commitments from sovereign wealth funds and institutional investors, targeting tens of billions in capital.
Concurrently, Blackstone and Brookfield Asset Management have made bids over €8 billion ($9.4 billion) for Volkswagen's Everllence SE division, competing against Advent International, Bain Capital, EQT AB, and CVC Capital Partners. Additionally, Blackstone Life Sciences has entered a co-funding agreement with Johnson & Johnson for the development of bleximenib, an oral treatment for acute myeloid leukemia. RBC Capital has rated Blackstone as Outperform with a $179 price target.
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