Blackstone Group CEO Su Shimin said that the data center business is not a bubble.

Blackstone Group CEO Su Shimin played down concerns about the existence of a bubble in data centers, saying that this business is extremely conservative. Su Shimin said in an interview with CNBC on Thursday that Blackstone's role is to provide direct services to healthy companies. He said the company builds data centers and signs long-term leases with creditworthy partners like Nvidia. Su Shimin said, "This is not a bubble business. It is extremely conservative." Blackstone is one of the world's largest data center operators and owners. The company, which manages $1.2 trillion in alternative assets, includes North America's largest data center landlord QTS and Australian data center operator AirTrunk.