Blackstone Inc. reported strong Q4 2024 earnings, marking one of its best quarters in over two years. The firm achieved distributable earnings per share of $1.69, up 52.25% year-over-year, surpassing the estimated $1.48, and total segment revenue of $4.15 billion, up 63.67% year-over-year, exceeding the forecasted $3.8 billion. Fee-related earnings reached $1.84 billion, above the $1.66 billion estimate, while assets under management (AUM) stood at $1.13 trillion. Inflows during the quarter amounted to $57.50 billion, significantly higher than the anticipated $39.9 billion. Additionally, Blackstone's GAAP net income for the quarter was $1.3 billion, with $704 million attributable to the company. The firm also highlighted its continued investment in data centers, with $80 billion allocated to support AI infrastructure, despite emerging competition from DeepSeek's low-cost AI models. Blackstone's President Jon Gray expressed optimism about the office market, declaring it has bottomed out, and noted the firm is nearing a deal to acquire 1345 Sixth Avenue, a Midtown Manhattan office tower valued at approximately $896 million, signaling a return to New York office dealmaking.