03:06 PM EDT, 07/15/2025 (MT Newswires) -- Blackstone (BX) said Tuesday that funds managed by Blackstone Infrastructure and Blackstone Real Estate plan to invest more than $25 billion to support the development of Pennsylvania's digital and energy infrastructure, targeting to build up the state as a strategic hub for artificial intelligence.

The investment management firm said it also aims to spur an additional $60 billion investment in the state.

Blackstone-backed data center operator QTS has secured multiple land sites throughout northeastern Pennsylvania to develop and operate data center sites, the company said.

Blackstone said it has also formed a joint venture with utility PPL, aiming to invest in new natural gas power generation facilities in the state.

Construction is expected to begin by the end of 2028, subject to permitting and utility approvals, the company said.

Shares of the company fell 1.8% in recent trading.

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