Blackstone plans to invest $25 billion in data centers and energy production in Pennsylvania, the investment firm’s president Jon Gray said at a Pittsburgh event where President Donald Trump spoke about artificial intelligence investments. Gray announced the planned investment on a panel at the Pennsylvania Energy and Innovation Summit, which was organized by Senator Dave McCormick (R-PA). McCormick and Trump today announced $90 billion of planned investments in the state. Blackstone, which manages $60 billion in its infrastructure business, is one of the largest owners of data center operators, including QTS in the U.S. and AirTrunk in Asia. It has also loaned billions of dollars to CoreWeave, the AI chip rental company. QTS has secured multiple sites in
Northeast Pennsylvania where it plans to build data centers, Blackstone said. Blackstone is working with local utility PPL to build natural gas power generation facilities in the state, which accounts for 20% of the nation’s natural gas output. Gray said Pennsylvania was an ideal location for new data centers because they can be built close to energy sources, a major bottleneck for new developments. Google also said Tuesday it would invest more than $25 billion in data centers and AI infrastructure over the next two years in the broader PJM grid region, which covers a broad swatch of the Mid-Atlantic. CoreWeave said it planned to put $6 billion toward a new data center in Lancaster, Pennsylvania.
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