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A new joint venture between Google and Blackstone looks to be putting some pressure on neocloud stocks.
Google and Blackstone
BX announced late Monday that they would team up to create a new cloud focused on tensor processing units, which are Google’s custom chips. Blackstone plans to commit $5 billion at the outset to help bring 500 megawatts of cloud capacity online next year. Google, a unit of Alphabet GOOG GOOGL, will supply the chips, software and various services.
