Blackstone Real Estate Income Trust (BREIT) is betting big that the generative AI arms race among tech giants will drive a wave of data center expansion to meet the massive processing needs of large language models.
The $70B fund is investing $8B in a data center expansion of QTS, according to a report in the Financial Times.
"Large technology companies are in the midst of an AI arms race which we believe will be a once-in-a-generation engine for future growth in data centers and [which] is driving tremendous demand on the ground," BREIT told investors, FT reported.
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