The asset manager is exploring a funding deal for Google's artificial intelligence hardware to secure a lead in the infrastructure market. Blackstone could commit tens of billions of dollars to multiple gigawatts of chips as it pushes to become the dominant financier of the AI build-out.

The potential investment targets the gigawatt-scale power and hardware requirements needed to support Google's AI operations. This strategy focuses on financing the physical assets of the technology sector to establish a primary role in the capital ecosystem for AI expansion.