Blackstone Invests $300 Million in AI Data Company DDN, Valued at $5 Billion

Blackstone is making a $300 million investment in DDN, a company that helps organizations store and analyze large amounts of data more efficiently.  This investment values the California-based company at $5 billion and marks the first external funding for DDN.  Blackstone has been focusing on the artificial intelligence sector by investing in data centers and companies that support chip makers, and this move aligns with that strategy. The deal highlights Blackstone's ongoing interest in businesses that facilitate AI growth.