Blackstone Q2 Earnings Up 26% on AI Wins and Record Inflows

Blackstone Inc. reported sharply higher earnings for the second quarter of 2026, driven by record inflows and significant gains from its expansive investments in artificial intelligence infrastructure. The New York-based alternative asset manager announced the results on July 23.

The firm reported GAAP net income of $2.4 billion for the quarter. Distributable earnings, the profit available to shareholders, rose 26% year-over-year to $2 billion, or $1.52 per common share, exceeding analyst expectations. The company declared a dividend of $1.29 per share, payable to shareholders of record on August 3. Total revenue for the quarter was $5.04 billion, a 36% increase.

A central driver of the performance was Blackstone's strategic focus on AI. Chairman and CEO Stephen Schwarzman stated the firm had deliberately chosen to "lean into the artificial intelligence megatrend," becoming a major private capital provider in the ecosystem. The company reported that nine of its ten best-appreciating investments have an AI link, including its stake in AI firm Anthropic and its data center businesses. During the quarter, Blackstone highlighted several major AI initiatives: a partnership with...