NEW YORK, August 11, 2026, 14:15 EDT
- Shares of Blackstone and Apollo rose between 4% and 6% at midday.
- Nvidia’s latest compute-finance platform aims to attract over $500 billion in third-party capital.
- Blackstone’s current consensus price target is lower than its share price during intraday trading.
Shares in Blackstone Inc. NYSE:BX rose on Tuesday following news that NVIDIA Corp. NASDAQ:NVDA had included the asset manager in a compute-financing platform aiming to leverage over $500 billion in third-party funds.
The development was significant as the broader market edged down. Shares in Blackstone and Apollo Global Management Inc. NYSE:APO rose by 4% to 6% around midday, while the S&P 500 dipped 0.11%.
| Instrument or sector | Midday move | Investor signal |
|---|---|---|
| Blackstone and Apollo | Up 4% to 6% | Winners in direct lending-platforms |
| Nvidia | Up 0.4% | Supported by demand for compute |
| S&P 500 financials | Up 0.2% | Sector sees small positive |
| S&P 500 | Down 0.11% | Market slightly negative |
| Nasdaq Composite | Down 0.35% | Technology underperformed |
At 12:12 EDT, market data showed the S&P 500 at 7,744.41 and the Nasdaq at 26,512.75.
The focus for investors involves more than just a single headline pledge. The $500 billion goal includes capital secured from multiple financial partners, not solely from Blackstone.
Nonetheless, Blackstone approaches with significant scale. At the close of June, the firm reported $1.346 trillion in assets under management and $961.6 billion in fee-earning assets.
| Blackstone Q2 metric | Value | Year-over-year change |
|---|---|---|
| Total AUM | $1,346.3 billion | 11% higher |
| Fee-earning AUM | $961.6 billion | Increased 8% |
| Quarterly inflows | $68.3 billion | Not provided |
| Fee-related earnings | $1.783 billion | Rose 22% |
| Distributable earnings | $1.977 billion | Climbed 26% |
The figures provided are preliminary and unaudited. They illustrate the impact of financing mandates: additional capital can increase management fees ahead of project maturity.
Chairman and CEO Stephen Schwarzman attributed the latest results to this approach. “Our decision to lean into the artificial intelligence megatrend is leading to standout investment performance across numerous strategies and creating extraordinary opportunities for growth.” Blackstone earnings release
The platform launched on Tuesday expands a financing network that already encompasses chips, power, and data centers. Two previous Blackstone deals illustrate this evolution.
| AI infrastructure platform | Capital or capacity | Blackstone role | Timing |
|---|---|---|---|
| Nvidia compute-finance platform | Target exceeds $500 billion | Among multiple financial backers | Revealed on Aug. 10 |
| Broadcom AI XPV platform | Initial allotment $35 billion; over 20 GW scheduled | Lead investor together with Apollo | Runs through 2028 |
| Google TPU cloud joint venture | $5 billion initial investment; 500 MW | Blackstone vehicles provide equity | First output slated for 2027 |
Broadcom Inc. NASDAQ:AVGO introduced its platform in June, featuring a $35 billion tranche. The platform aims to provide over 20 gigawatts of computing capacity by 2028.
Blackstone has pledged $5 billion towards a TPU-cloud partnership with Alphabet Inc. NASDAQ:GOOGL. President Jon Gray stated, “We see a generational opportunity to invest capital at scale building AI infrastructure.” Blackstone and Google announcement
Valuation poses a challenge for the positive outlook. At 11:30 EDT, Blackstone traded at $145.85, exceeding the $142.38 average price target set by 23 analysts.
| Firm | Rating | Price target | Date |
|---|---|---|---|
| TD Cowen | Buy | $154 | Aug. 6 |
| Argus Research | Buy | $150 | July 30 |
| J.P. Morgan | Hold | $131 | July 29 |
| Goldman Sachs | Hold | $127 | July 27 |
| Bank of America | Buy | $138 | July 24 |
The consensus rating stayed at Buy, though the spread was significant. Price targets varied between $119 and $184, highlighting differing views on the extent to which AI growth is factored into the current price.
Risks: The Nvidia number represents a platform objective, not Blackstone’s revenue. Delays in projects, limited power supply, stricter credit conditions, or reduced demand for AI may hinder rollout and slow fee increases.
The upcoming pivotal moment will be Blackstone’s reveal of its commitment, associated fees, and funded initiatives. This information will clarify if the rally on Tuesday is based on real earnings potential or largely driven by Nvidia’s headline impact.
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