Benefiting from AI investments, Blackstone Group's profit grows by 26%

Golden Ten Data July 23rd｜Blackstone Group’s distributable profits in the second quarter increased by 26% year-on-year, benefiting from asset sales and gains from artificial intelligence-related investments. Blackstone Group’s distributable profits for the second quarter (i.e., profits available to shareholders) reached $1.97 billion, surpassing analysts’ forecast of $1.66 billion. Earnings per share were $1.52, higher than the average analyst expectation of $1.33. The president of Blackstone stated in an interview that artificial intelligence investments continue to boost Blackstone’s performance; among its ten major investment portfolios, nine are related to data centers, energy, electricity, and large language models.