(Reuters) - Blackstone trounced Wall Street estimates for fourth-quarter profit on Thursday, fueled by a pickup in dealmaking, while the assets under management at the world's largest alternative investment firm reached a record $1.13 trillion.

Blackstone (BX), the world’s largest alternative investment firm, has delivered “one of the best quarters in our history” as the improved

Blackstone beat estimates for fourth-quarter profit on Thursday, driven by a pickup in dealmaking, while executives at the world's largest alternative asset manager signaled that the troubled commercial real estate sector was stabilizing.

Blackstone said on Thursday its massive investments in data centers would not be undermined by the low-cost artificial intelligence models from China's DeepSeek, as the need for physical infrastructure was still vital for AI.

Blackstone said Thursday its massive investments in data centers would not be undermined by the low-cost artificial intelligence models from China’s DeepSeek, as the need for physical infrastructure was still vital for AI.