Blackstone quarterly profits surge after AI investments

Blackstone saw higher earnings than were expected on Wall Street in the second quarter, as gains from its AI holdings and record client inflows lifted the company’s assets under management to about $1.35 trillion.

Blackstone says nine of its ten best-appreciating positions are tied to AI.

Quarterly earnings beat consensus by wide margin

The firm’s distributable earnings reached $1.52 a share, up from $1.21 in Q2 2025. Analysts polled by LSEG had penciled in $1.35, so the actual figures cleared consensus comfortably.

Total revenue increased by 36% to $5.04 billion, while fee-related earnings at $1.43 a share equaled $1.78 billion.

The firm’s infrastructural investments arm had gross returns of 7.2%, with positive asset sales after a slow start to the year. Blackstone sold a partial stake in three data centers to Digital Realty, and handed control of power-infrastructure company Sabre Industries to TPG. These deals increased total monetization proceeds to $31.8 billion.

AI at the centre of Blackstone portfolio

Blackstone Chief Executive Stephen Schwarzman said the quarter validated the firm’s earlier AI bets. The company has “decided to lean into the artificial intelligence megatrend,” he said, adding that becoming “a trusted partner at scale to many of the key innovators” had left the firm well positioned.

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