Blackstone To Invest $13.3B In AI Data Center In UK, Projects 4,000 New Jobs
Lekha Gupta 2 years ago
EquitiesLarge CapNews
Blackstone Inc. (NYSE: BX) to invest £10 billion in North East of England to establish one of Europe's largest AI data centers, generating 4,000 jobs.
Blackstone Inc. (NYSE:BX) is investing 10 billion pounds ($13.3 billion) in England to establish what is expected to be one of Europe’s largest artificial intelligence data centers.
The construction on the site is scheduled to begin next year. The center is projected to generate 4,000 jobs for British citizens and makes good on UK Prime Minister Keir Starmer‘s promise to unlock new growth opportunities.
‘The number one mission of my government is to grow our economy so that hard-working British people reap the benefits – and more foreign investment is a crucial part of that plan,” Starmer said, calling the Blackstone deal “a huge vote of confidence.”
Blackstone COO Jon Gray said the firm is “making significant commitments to building social housing, facilitating the energy transition, growing life sciences companies and developing critical infrastructure needed to fuel the digital economy.”
This week, Blackstone also announced that, along with Vista Equity Partners, it is acquiring Smartsheet for $8.4 billion in cash at $56.50 per share.
Investors can gain exposure to the stock via EA Series Trust WHITEWOLF Publicly Listed Private Equity ETF (BATS:LBO) and WBI BullBear Quality 3000 ETF (NYSE:WBIL).
Price Action: BX shares are up 0.15% at $153 at last check Thursday.
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