Google and private equity giant Blackstone plan to launch a new artificial intelligence cloud computing company backed by $5 billion in equity capital, according to reports from the Wall Street Journal.

The unnamed venture will be majority-owned by Blackstone, which will provide the initial $5 billion funding. The partnership represents a significant collaboration between one of the world's largest technology companies and a major private equity firm as demand for AI infrastructure continues to surge.

The new company will focus on cloud services specifically designed for artificial intelligence applications, entering a rapidly expanding market. Major technology companies have been racing to build out AI infrastructure to support the growing computational needs of machine learning and AI model training.

The announcement comes amid a broader wave of investment in AI-related infrastructure. Companies across the technology sector have been announcing major capital commitments to build data centers and computing capacity needed to support artificial intelligence workloads.

Neither Google nor Blackstone immediately responded to requests for comment about the timing of the venture's launch or additional details about its operations. The partnership would mark a notable expansion of Google's cloud business through external investment rather than solely internal funding.