Blackstone distributable earnings jump 26% on AI investments

Earnings
โดย The Motley Fool·Read original
Summary · why it matters

Blackstone reported a 26% jump in second-quarter distributable earnings to nearly $2 billion, or $1.52 per share, driven by strong fee-related earnings and net realizations. CEO Stephen Schwarzman highlighted nearly $70 billion of inflows during the quarter, pushing assets under management up 11% to nearly $1.35 trillion. The firm's AI-linked investments, including a stake in Anthropic and data center ventures, were key contributors, with nine of its ten best-appreciating investments tied to artificial intelligence. Despite a nearly 35% stock price decline from its 52-week high amid private credit concerns, Blackstone's overall private credit strategy remains robust, and its trailing 12-month dividend has risen nearly 23% to $5.23 per share. The company continues to expand its AI infrastructure, including a $5 billion venture with Google and a planned $30 billion investment in Japanese data centers.

Impact on stocks 2

Artificial Intelligence▲ · 2 stocks
Blackstone Group Inc
BX
▲ PositiveCapitalrelevance

Distributable earnings jumped 26% to $1.52 per share, with strong fee-related earnings and net realizations.

Alphabet Inc Class C
GOOG
▲ PositiveDemandrelevance

Blackstone's $5 billion AI infrastructure venture with Google highlights demand for Alphabet's cloud and AI services.

Theme Impact 4

Off-coverage companies 1

AnthropicPrivate▲ Positive
Demandrelevance

Blackstone's stake in Anthropic and AI-linked investments contributed to strong earnings, indicating demand for Anthropic's AI technology.

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