06:33 AM EST, 01/09/2025 (MT Newswires) -- Blackstone (BX) is investing $300 million in California-based artificial intelligence data firm DDN at a $5 billion company valuation, The Wall Street Journal reported Thursday, citing executives from both companies.

Founded in 1998 by Alex Bouzari and Paul Bloch, DDN initially served government agencies and research organizations, managing data for complex projects like NASA missions and drug development simulations.

DDN's Chief Executive Alex Bouzari reportedly said his company is engaged in the sale of computing equipment and software to manage and glean information from large-scale and complex data used in AI models.

Blackstone did not immediately respond to requests for comment from MT Newswires.

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