The Bull CaseBlackstone’s AI bet goes back to 2021, when it took data center operator QTS private for $10 billion. This month, QTS, the same firm that started this strategy in 2021, canceled a planned Virginia data center after local opposition, even with county approval already in hand. A June Reuters/Ipsos poll found only 14% of Americans would support a data center in their own community. Blackrock (BLK) was preferred by 79 hedge funds, KKR was preferred by 82 hedge funds, and BN was favored by 47 hedge funds. Overall, Blackstone is more liked by hedge funds than BLK, KKR, and BN.