Blackstone has launched Blackstone N1, or BXN1, a San Francisco-based platform combining its technology-focused growth equity and private equity operations under Jas Khaira after Jon Korngold’s departure. The restructuring centralizes opportunities that could span growth equity, private equity and infrastructure. Blackstone says it is the world’s largest investor in AI-related infrastructure, with more than $150 billion deployed in global data-center assets and a further $160 billion pipeline. The firm is also reportedly preparing to invest tens of billions of dollars to secure additional capacity for Google’s custom Tensor Processing Units through Crux AI, expanding on its initial $5 billion equity commitment. The joint venture planned 500 megawatts of capacity by 2027, with leverage expected to bring total investment to about $25 billion, but faced power, permitting and construction delays by September 2026, including cancellation of a Wyoming project.