Blackstone Launches 'N1' Division to Accelerate AI Investment Strategy

Blackstone Inc. has announced the formation of Blackstone N1, a dedicated division designed to centralize and scale the firm's investments in artificial intelligence. The new unit will be headquartered on the West Coast to better align with the global technology ecosystem. The strategic shift involves folding the firm's existing growth business into N1. This new entity will manage a high-profile AI portfolio that already includes stakes in industry leaders such as OpenAI and Anthropic PBC. Jas Khaira, a veteran executive, has been appointed to lead Blackstone N1. Khaira will relocate from New York to San Francisco to oversee the division. In addition to his new role, he will maintain his leadership of the Americas for the firm’s Tactical Opportunities business and remain a member of the investment committee. The appointment of Khaira marks the departure of Jon Korngold, who previously headed Blackstone Growth and is now exiting the company. By establishing a dedicated AI hub in San Francisco, Blackstone is positioning itself to capture more aggressive growth in the generative AI space. This move signals a shift toward more specialized, sector-specific management for the firm's most volatile and high-growth technology assets.