Blackstone Invests $300M In DDN To Boost AI Storage Business
Blocks&Files, Thursday, January 9th, 2025
Private equity firm Blackstone is investing $300 million in privately held DDN, valuing the company at $5 billion and aiming to help develop its AI-related storage business.
According to DDN CEO Alex Bouzari, as referenced in a Wall Street Journal report, DDN will use the cash 'to sharply expand the AI data company's business-customer base.'
Bouzari stated: 'Blackstone's support accelerates our mission to redefine the enterprise AI infrastructure category and scale at an even faster rate. By fueling our mission to push the boundaries of data intelligence, we can empower organizations worldwide with next-level AI solutions that drive ground-breaking innovation and deliver 10x returns on their investments.'