Blackstone Inc. (BX) is making a major investment in the future of artificial intelligence in the United Kingdom. The private equity giant is pouring £10 billion ($13.3 billion) into the development of what is expected to become one of Europe’s largest AI data centers. Construction is set to begin next year, and the center is projected to create a whopping 4,000 jobs for British citizens. This move is a significant boost to the UK’s economy and aligns perfectly with Prime Minister Keir Starmer’s goal of unlocking new growth opportunities.
Starmer hailed the Blackstone deal as a “huge vote of confidence,” emphasizing the importance of foreign investment in driving economic growth. “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,” he said.
Blackstone COO Jon Gray echoed this sentiment, highlighting the company’s commitment to supporting the UK’s economic development in various ways. “We are 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,” Gray stated.
This week, Blackstone also announced the acquisition of Smartsheet, a collaboration platform, alongside Vista Equity Partners, for $8.4 billion in cash at $56.50 per share. Investors can gain exposure to Blackstone stock through the EA Series Trust WHITEWOLF Publicly Listed Private Equity ETF (LBO) and WBI BullBear Quality 3000 ETF (WBIL).
Blackstone’s stock (BX) saw a slight uptick, rising 0.15% to $153 at the close of trading on Thursday. The company’s investment in the UK AI data center and the acquisition of Smartsheet showcase Blackstone’s commitment to both technological advancements and broader economic development. It will be interesting to see how these moves impact the company’s future trajectory and the growth of the UK’s digital economy.
