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

Blackstone's President Jon Gray has expressed his belief that more global equity fundraising will be required to keep pace with the anticipated surge in demand from the AI industry. Speaking at the Hong Kong Monetary Authority's Global Financial Leaders Investment Summit, Gray noted that most major tech companies, including Meta, Google, Oracle, SpaceX, and Anthropic, are expected to raise additional capital.

In addition to these major players, data centers are also generating significant demand due to the enormous energy requirements associated with AI infrastructure. Gray expressed strong confidence in this sector, citing the "pretty extraordinary" demand for computing power. He highlighted that the current environment sees demand outstripping supply, providing him with a great deal of reassurance.

However, tech stocks have been experiencing pressure recently as concerns over AI spending have led to a fresh wave of sell-offs.