Blackstone Set to Boost TPU Purchases Amid Rising Demand
Blackstone, the world's largest alternative asset management firm, is reportedly preparing to significantly increase its purchases of Google's Tensor Processing Units (TPUs). This comes as Google A (GOOGL.US) continued to rise nearly 3% during trading on Friday, currently quoted at $341.82.
According to reports, BlackRock expects to procure several times more units than initially planned when the joint venture with Google was announced in May this year. The exact procurement numbers remain undisclosed, as BlackRock declined to comment on the matter.
The head of Google Cloud recently stated that the scale of Google's AI accelerator chip business is already twice that of its closest competitor in cloud computing. This significant expansion has led to increased demand for TPUs, driving up sales and revenue for both companies.