A fresh AI infrastructure deal is shifting the narrative and putting neocloud names under pressure: Google and Blackstone are building TPU-powered cloud capacity at scale. Nicole Petallides highlights the market implications. Blackstone’s initial equity commitment is $5 billion, with the goal of 500 MW online by 2027. Former Google engineering leader Gilles Drieu says this reflects hyperscalers commercializing proprietary chips beyond their own clouds. For more market news, tune in at: SchwabNetwork.com/?CID=SM:Facebook:Organic:2026-5-19 | Schwab Network

reactive:nebius-neocloud-thesis