Blackstone CEO Rebuts AI Bubble Theory, Says Demand Is Growing “Parabolically”

On October 22 that Blackstone Group President Jon Gray countered claims made days earlier by billionaire Ken Griffin regarding an artificial intelligence (AI) bubble. Gray said on Thursday: "When you think about a bubble, you think of building capacity first and then hoping demand materializes. But in AI, you're building capacity while hoping to keep up with demand." He described this as a "completely different scenario" compared to phenomena like the 1990s telecom bubble. He referenced Ode, an AI consulting firm co-founded by Blackstone and Anthropic. "We simply cannot keep up with customer demand," he said. "Demand growth is almost parabolic." (Cailian Press)