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

Blackstone President Jon Gray forecast additional global equity fundraising will be necessary to keep pace with the burgeoning demand from the AI industry. The Blackstone head, speaking at the Hong Kong Monetary Authority's Global Financial Leaders Investment Summit, predicted most leading tech firms would seek additional capital. Among the anticipated deals were Meta, Google, Oracle, SpaceX and Anthropic.

In addition to these tech giants, Gray highlighted the looming data center and energy requirements, which he deemed massive. He expressed strong confidence in AI infrastructure due to the "pretty extraordinary" demand for computing power. Gray noted that the current scenario presents a significant gap between demand and supply, providing him with considerable comfort.

However, tech stocks globally have been experiencing pressure recently. Concerns about AI spending have sparked a new wave of sell-offs in recent weeks.