DDN, which calls itself “a global leader in AI and data intelligence solutions,” announced it has received a $300M investment from funds managed by Blackstone (BX) Tactical Opportunities at a $5B valuation. “The investment will be used to help fund DDN’s continued rapid growth as it serves its customers’ fast-expanding AI and high-performance computing software and infrastructure needs,” the companies stated.
Stay Ahead of the Market:
- Discover outperforming stocks and invest smarter with Top Smart Score Stocks
- Filter, analyze, and streamline your search for investment opportunities using Tipranks' Stock Screener
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BX:
- Blackstone (BX) to Invest $300M in AI Data Storage Provider DDN
- GSK in advanced talks to purchase U.S. biotech IDRx, FT reports
- Blackstone price target raised to $204 from $182 at Deutsche Bank
- Cushman, Camden Property among landlords sued by Justice Department
- Blackstone put volume heavy and directionally bearish