Blackstone president says more tech sector fundraising ahead to keep up with AI industry growth

Blackstone's President Jon Gray projected that more worldwide equity fundraising would be necessary to keep pace with the anticipated surge in demand from the AI industry, during a speech at the Hong Kong Monetary Authority's Global Financial Leaders' Investment Summit on Tuesday. Most major tech companies, including Meta, Google, Oracle, SpaceX, and Anthropic, were expected to issue additional capital, Gray stated.

The data centers and energy requirements associated with this expansion were substantial, he added. Gray expressed profound conviction and confidence in AI infrastructure due to the extraordinary demand for computing power, noting that the current scenario sees demand outpacing supply significantly. This factor provided Gray with considerable comfort regarding the situation.

Tech stocks worldwide had been grappling with pressure in recent weeks as mounting concerns over AI spending instigated a fresh wave of sell-offs.