Big ticket tech deals needed to keep pace with AI growth boom, financial leaders say

Global financial leaders are urging tech companies to deliver larger funding deals to meet the demand created by the rapid growth of the AI industry, according to a statement made on Tuesday (Nov 3) in Hong Kong. Tech stocks have experienced pressure in recent weeks due to rising concerns about AI spending, which has led to a surge in selling, with projected spending exceeding US$730 billion this year, up from approximately US$700 billion.

Jon Gray, president of Blackstone, an active investor in AI infrastructure, emphasized that the demand for computing power is growing at an "extraordinary" rate and that major tech companies like Meta, Google, and Oracle are raising equity. Additionally, SpaceX has gone public, and Anthropic has also announced its public listing, alongside other companies such as Oracle.

While some upheavals in the AI-related market have occurred, strong companies with promising narratives are expected to continue raising capital. However, Goldman Sachs CEO David Solomon cautioned that volatility could still arise for investors, as not all investments will yield positive returns. Morgan Stanley CEO Ted Pick noted early indications that US markets may be approaching a correction, with significant declines in stocks within major indices.

A notable example of the growing investment trend is the recent bond sale by Alphabet, the parent company of Google, raising 6 billion euros (US$6.7 billion). Asia-Pacific tech fundraising more than tripled in the first three quarters of 2026, climbing to US$125.8 billion from US$36 billion a year earlier, primarily driven by semiconductor and AI-related deals.

Companies like CXMT, Enflame Technology, and notable tech giants such as Alphabet, Amazon, Microsoft, and Meta have signaled their continued commitment to AI spending.