Blackstone Group LP (NYSE: BX) reported financial results on the 23rd, showing that the company's second-quarter 2026 performance significantly exceeded market expectations, driven by continued deployment in artificial intelligence (AI) infrastructure construction and improved capital inflows for its private equity business.
According to the financial data, Blackstone's distributable profit for the second quarter reached $1.98 billion, a substantial year-over-year increase of 26%; earnings per share rose to $1.52, up from $1.21 in the same period last year. The company's total quarterly revenue increased 36% year-over-year to $5.04 billion, while fee-related earnings grew 22% to $1.78 billion. Assets under management (AUM) increased 11% year-over-year to $1.35 trillion.
By business segment, the infrastructure investment business performed outstandingly, achieving a total return of 7.2% for the quarter, the highest among all its investment areas. In private equity and related fields, Blackstone's long-term investments in data centers and the AI industry chain have entered a harvest period. Data shows that Blackstone has become one of the largest investors in global data centers and AI infrastructure. Previously, its credit and insurance business department announced a partnership with Broadcom to establish an AI infrastructure financing platform with an initial scale of $35 billion; additionally, Blackstone collaborated with Google to invest $5 billion in establishing an AI cloud services enterprise.
In contrast, private credit business capital inflows slowed for two consecutive quarters, with new funds of $310 billion added in the quarter. Analysts pointed out that the shift of individual investor capital to other private assets is the main reason for the slowdown in credit business, but institutional investor inflows remained stable, effectively offsetting some of the impact from individual account capital movements.
Blackstone management stated that the industrial reshaping brought by AI technology is creating significant synergies across its core segments, including private equity, credit, and real estate. The company will continue to consolidate its investment advantages in computing infrastructure, maintaining long-term capital appeal and market competitiveness.