EQT Partners with Google Cloud to Expand AI Across 300 Portfolio Companies
Synopsis
Private equity firm EQT has partnered with Google Cloud to accelerate artificial intelligence adoption across more than 300 companies within its investment portfolio. The agreement will provide businesses access to Google’s Gemini Enterprise Agent platform, cybersecurity tools and future AI products as demand for enterprise AI deployment continues rising globally. Google engineers will work alongside EQT’s 85-person AI transformation team to help companies modernise operations across sectors including healthcare, enterprise software and technology. The partnership reflects growing competition among major AI providers and investment firms to expand enterprise AI adoption at scale.
EQT is teaming with Google Cloud to boost AI adoption at more than 300 portfolio companies.
Key Highlights
- EQT partnered with Google Cloud
- Over 300 portfolio companies can use AI tools
- Businesses will utilize the Gemini Enterprise Agent platform from Google
- Additional cybersecurity and cloud services for EQT portfolio firms
- EQT’s 85-person AI team will collaborate with Google engineers
- The acquisition adds to Google Cloud’s momentum in enterprise AI deployment
EQT and Google Cloud expand AI rollout across portfolio companies
Investment firm EQT has partnered with Google Cloud in a deal it claims will speed up the use of artificial intelligence (AI) among some 300 investment companies. The agreement will provide companies backed by EQT with access to Google Cloud AI tools, cybersecurity services and early access to selected future AI products, as companies have increasingly moved toward incorporating artificial intelligence into their regular operations.
The partnership encompasses enterprise software, healthcare and technology, with portfolio companies receiving access to Google’s Gemini Enterprise Agent platform, which can help with building and deployment of AI-driven programs. Additionally, engineers from Google will directly operate with EQT’s AI transformation team that is already built up and composed of about 85 experts assisting organisations to modernise and enhance their competitive advantages in utilising artificial intelligence.
Google Expands Enterprise AI Partnerships With PE Firms
It underscores escalating competition between some of the biggest names in AI to find massive enterprise clients via private equity networks. EQT and its portfolio companies will also get access to Google Cloud's broader partner ecosystem that includes more than 330,000 experts across consulting firms like Accenture, Deloitte and KPMG.
Last week, Google closed similar AI deployment deals with investment firms Vista Equity Partners and Thoma Bravo as technology companies fight to extend artificial intelligence usage in businesses around the world. Other investment firms such as Blackstone and TPG are also collaborating with AI vendors like OpenAI and Anthropic to roll out AI assets throughout their own portfolios.
With AI Businesses scramble to future-proof operations
Hiring of engineers, consultants and AI deployment specialists has seen a global surge as businesses scramble to modify artificial intelligence systems and enhance productiveness. EQT says that in addition, its partnership with Google Cloud will also potentially give software companies in EQT's portfolio the chance to sell their own products via Google Cloud's online store, opening up more ways to sell.
The partners can also work with management teams to "future-proof" their businesses, said EQT co-head of private capital Bert Janssens, and keep competition at bay in a world that is becoming increasingly reliant on AI.
FAQs
- How many companies are included in this deal?
The deal includes more than 300 portfolio companies.
- What AI tools would companies have access to?
Access to Google’s Gemini Enterprise Agent platform and cybersecurity tools will become available for the companies.
- Which industries are included?
Business across software, healthcare and tech are in the portfolio.
- Why are private equity firms pivoting to AI?
AI is now being utilized by investment firms to improve efficiencies, competitiveness and long-term growth of business.
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