Blackstone’s Jon Gray Says AI Demand Is Outrunning Supply

Blackstone President Jon Gray says AI demand is outrunning infrastructure supply, while Citadel CEO Ken Griffin warns that excess computing capacity could push prices lower and weaken returns. Gray cited combined capital spending by five hyperscalers at $415 billion in 2025, rising to a projected $820 billion in 2026. He put the projected total at about 2.5% of U.S. gross domestic product. The figure captures planned investment, rather than a direct measure of how much computing capacity is already serving customers.

Source: TokenPost