Google and Blackstone form AI cloud venture backed by $5 billion to challenge CoreWeave

Google and Blackstone are creating a standalone AI cloud company to sell Google's proprietary TPU chips to outside customers, with Blackstone contributing $5 billion in equity for a majority stake and total investment reaching about $25 billion including leverage; Benjamin Treynor Sloss will run the new unit. This large funding and dedicated AI infrastructure could accelerate crypto and DeFi adoption by enabling CEXs, DEXs, token launch platforms and security teams to use high-performance AI for trading, token analytics, fraud detection and protocol optimization, a development likely to be bullish for crypto infrastructure and services.