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Blackstone Reports Q2 Earnings of $2B, Up 26% YoY; Launches $35B AI Infrastructure Platform

2026-07-23 23:58:21

AVGO-0.98%

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According to Yahoo Finance, on July 23, Blackstone CEO Stephen Schwarzman reported second-quarter distributable earnings of $2 billion ($1.52 per share), up 26% year-over-year and beating market expectations of $1.7 billion. The infrastructure investment firm launched a $35 billion AI investment platform with Broadcom and Apollo Global Management to reduce computational and power costs for AI model training. In May, Blackstone also partnered with Alphabet to launch an AI cloud service, with the infrastructure segment recording 7.2% growth in Q2.

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