Blackstone Inc. Q2 2026 Earnings Recap

Blackstone shares rose 5.8% following Q2 results, driven by strong earnings growth and notably robust momentum in AI-related investments that are fueling asset and fee growth across key platforms.

Key Takeaways

• Distributable earnings grew 26% year over year to $2 billion, continuing the solid growth trend from Q1.
• Fee-related earnings increased 22% year over year, supported by strong inflows of nearly $70 billion in the quarter and $260 billion over the last 12 months.
• Assets under management reached a record $1.35 trillion, up 11% year over year.
• AI-related investments, including in data centers, energy, and frontier AI companies (Anthropic, OpenAI, SpaceX), are a central growth driver.
• Launched the $2 billion data center REIT (BX DC), representing the largest blind pool REIT IPO ever, underscoring leadership in this sector with significant long-term growth potential.