Blackstone President Jon Gray rejected comparisons between today’s AI infrastructure buildout and the 1990s telecom bubble, saying demand is growing fast enough to keep projects focused on meeting existing needs, according to a BlockBeats flash published Oct. 22.
Gray described demand as “parabolic”
Gray was quoted as describing AI demand as “parabolic.” BlockBeats said Blackstone’s AI consulting venture with Anthropic, Ode, is currently unable to meet customer demand. The remarks contrast with Citadel founder Ken Griffin’s recent view that an AI bubble is highly likely.
The flash also put Blackstone’s data-center investment at about $200 billion, including power and transmission infrastructure. It said Gray acknowledged that strong demand does not guarantee every project will earn an attractive return, as operators such as CoreWeave weigh financing costs, future cash flow and technology-driven asset depreciation. The figures and assessments are attributed to the BlockBeats report; it did not identify an interview or provide primary data.