Google, Blackstone plan AI cloud venture with $5 billion backing: Report

Alphabet’s Google and Blackstone plans to launch an artificial-intelligence cloud company using Google’s specialized chips, the Wall Street Journal reported on Monday, citing sources.

Blackstone, the world’s largest alternative asset manager, is ‌expected ⁠to contribute $5 ⁠billion in equity and hold a majority stake in the unnamed U.S. venture, with a deal expected to be announced in a few hours, the report said.

Google will supply hardware, including its specialized chips known as Tensor Processing Units, or ⁠TPUs, as ‌well as software and services to the venture, the WSJ reported.