Blackstone Reportedly Plans to Sharply Increase Google TPU Orders

Blackstone is reportedly planning to buy significantly more Google TPUs than the volume it disclosed when announcing a joint venture with Google in May 2026, according to The Information. A person familiar with the matter said the additional purchases could amount to several times the previously planned volume. Blackstone declined to comment on the specific number.

In May 2026, Blackstone and Google announced a U.S. joint venture to offer data center capacity, operations, networking and Google Cloud TPUs, providing TPU compute to customers in a "compute-as-a-service" model. Blackstone said at the time it would make an initial equity investment of $5 billion, targeting 500 megawatts of data center capacity online by 2027, with plans for significant future expansion. Reuters reported that the project could see total investment of up to $25 billion including leveraged financing.

Google's provision of its in-house TPUs is part of a push to bring its AI chips to customers beyond Google Cloud. A Google Cloud executive recently said Google's AI accelerator chip business is now more than twice the size of that of its closest cloud computing rival. In 2026, Google began counting third-party TPU sales in its cloud revenue and has expanded TPU commercialization through leasing, direct sales and the joint venture with Blackstone.

If Blackstone's final procurement scale does multiply as reported, it could mean further expansion of the TPU cloud venture with Google, and reflects large capital institutions continuing to bet on AI infrastructure demand through a model combining chips, data centers and computing services.