Blackstone Inc., by Blackstone Power Transition Companions, has signed an settlement to accumulate the Potomac Power Middle, a 774-megawatt (MW) pure fuel energy plant in Loudoun County, Virginia, to help rising energy demand amongst information facilities.
“The transaction represents Blackstone’s most up-to-date funding within the energy infrastructure supporting information facilities and AI revolution – one of many agency’s highest-conviction areas”, Blackstone mentioned in a web-based assertion.
“The Northern Virginia area presently represents roughly 25 % of U.S. information middle capability, and the Potomac plant is positioned in shut proximity to over 130 information facilities – with important additional development anticipated”.
- Advertisement -
Blackstone didn’t disclose particulars of the transaction. Santander and Jefferies LLC served as advisors to the corporate.
“Potomac is likely one of the best fuel energy vegetation within the area and has the potential to combine a hydrogen gasoline mix sooner or later, which may present future environmental advantages”, mentioned Mark Zhu, managing director at Blackstone Power Transition Companions.
Blackstone claims to be the world’s largest information middle supplier with a world portfolio.
CoreWeave Funding
Final yr it dedicated help for AI developer CoreWeave. The $7.5 billion debt financing facility is “led by funds managed by Blackstone, with strategic participation from Magnetar (co-lead investor) and Coatue”, CoreWave mentioned in a press launch Might 17, 2024. The opposite backers within the financing bundle embody BlackRock, Carlyle, CDPQ, DigitalBridge Credit score, Eldridge Industries and Nice Elm Capital Corp.
“CoreWeave is constructing the infrastructure to energy the AI improvements which are already altering how companies function within the international economic system”, CoreWeave chief government and co-founder Michael Intrator mentioned then. “The caliber of traders on this massive debt financing spherical is a robust testomony to each the insatiable market urge for food for AI infrastructure and their perception in CoreWeave’s capability to ship cutting-edge innovation for the biggest AI labs and innovators at scale.
CoreWeave mentioned, “The following period of computing will likely be pushed by AI workloads that put super demand on computational assets”.
“CoreWeave is uniquely positioned to fill a void within the cloud market by delivering the high-power infrastructure that these market-leading AI merchandise require”, it added.
DDN Funding
Earlier this month it was introduced that Blackstone invested $300 million in one other AI agency, DDN.
“This funding permits us to execute our technique to carry enterprise-grade AI options to corporations of all sizes, remodeling industries and delivering measurable outcomes”, Paul Bloch, president and co-founder of DDN, mentioned in an announcement January 9, 2025.
“DDN is laser-focused on fixing actual AI enterprise challenges, from accelerating LLM deployments to enhancing inferencing, so our clients can unlock their information’s potential and obtain tangible ROI [return on investment] quicker than ever”.
To contact the writer, electronic mail jov.onsat@rigzone.com
Generated by readers, the feedback included herein don’t mirror the views and opinions of Rigzone. All feedback are topic to editorial evaluate. Off-topic, inappropriate or insulting feedback will likely be eliminated.
