Blackstone President Rebuts AI Bubble Theory, Says Demand Is Growing "Parabolically"

Blackstone President Jon Gray rebutted Ken Griffin's AI bubble theory, arguing that in the AI sector, capacity is being built while demand is being chased, which is entirely different from the telecommunications bubble of the 1990s. Citing Ode, an AI consulting company jointly founded by Blackstone and Anthropic, he said client demand is growing almost parabolically, and the company simply cannot keep up.