Blackstone President Rebuts AI Bubble Claims: Demand Is Growing "Parabolically"

Odaily reports: Blackstone Group President Jon Gray has pushed back against billionaire Ken Griffin's claim made days earlier that there is a bubble in artificial intelligence (AI). Speaking on Thursday, Gray said: "When you think about a bubble, you think about building capacity first and then hoping demand shows up. But in AI, you're building capacity while hoping you can keep up with demand." He said this is "a very different situation" from phenomena like the telecom bubble of the 1990s. He mentioned Ode, the AI consulting firm jointly established by Blackstone and Anthropic. "We simply can't keep up with client demand," he said. "Demand growth is almost parabolic."