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

HONG KONG, Nov 3 : Blackstone President Jon Gray said on Tuesday there would be more global equity fundraising needed to keep up with the enormous likely demand from the AI industry's growth.

Gray, speaking at the Hong Kong Monetary Authority's Global Financial Leaders' Investment Summit, said most of the major tech companies were expected to raise more capital.

"Meta and Google and Oracle raising equity ... SpaceX going public, Anthropic going public," Gray said. "On top of it ... the data centers, the energy needs are enormous."

Gray said he has a tremendous amount of conviction and confidence in AI infrastructure because of "pretty extraordinary" demand for computing power.

"Now you're in an environment where the demand's running well ahead of supply," he said. "So that gives me a lot of comfort."

Tech stocks globally have been under pressure in recent weeks as growing concerns about AI spending have triggered a new wave of selloffs.