Early this year, private equity firm Blackstone bet big on the future of artificial intelligence by investing $300 million in a Chatsworth company that’s been around for more than two decades.
The company, DDN, helps businesses store and manage the massive trove of data that powers AI systems — the lifeblood needed for chatbots, self-driving cars and more. DDN’s high-profile customers include chipmaker Nvidia, Elon Musk’s AI startup xAI, Google Cloud and Ford. DDN, short for DataDirect Networks, has roughly 1,000 employees.
“They have a trillion dollars of assets under management, and it’s a company that we thought would really move the needle for us in terms of extending our reach,” said Jyothi Swaroop, DDN’s chief marketing officer.
The investment was among the largest this year in the Greater Los Angeles region, which remains a hot spot for investments in both old…
