Blackstone is raising $1.75 billion through an initial public offering for an AI-focused data-center real estate investment trust (REIT). The IPO is priced at $20 per share, according to the available reporting. The offering is positioned to benefit from increased demand for data-center capacity tied to artificial intelligence workloads. Multiple outlets describe the deal size as $1.75 billion and the pricing as $20, indicating a consistent set of core terms across coverage. The REIT structure is designed to provide public-market investment exposure to a portfolio of data-center assets, which are expected to be used to support AI and related cloud computing needs. The reports do not provide additional deal specifics in the information provided, such as allocation details, underwriting terms, expected timetable, or the specific portfolio of properties backing the REIT. Overall, the coverage centers on the successful completion of the capital raise, the stated offering amount, and the pricing of the shares as the primary disclosed facts.