Blackstone President Jon Gray stated at the Global Financial Leaders’ Investment Summit in Hong Kong on November 3, 2026, that the artificial intelligence sector will require significantly larger capital raisings. He noted that demand for computing power, data centers, and chips is currently outpacing the available supply.
Gray identified Meta, Google, and Oracle as companies likely to pursue major equity fundraising to support their AI operations. Additionally, he highlighted the potential for initial public offerings from SpaceX and Anthropic, which would further increase the demand for investor capital in public markets.
The executive projected that capital expenditures by hyperscalers are expected to double, reaching a total of $820 billion. Despite recent market volatility and investor concerns regarding AI spending, Gray maintains a positive outlook on infrastructure investment.
Blackstone is actively directing capital toward the physical infrastructure of AI, specifically targeting data centers and energy assets. These investments are intended to address the supply-demand imbalance in computing capacity and power infrastructure.
