Blackstone Chief Rejects AI Bubble Narrative Amid Conflicting Signals From Wall Street

Blackstone President Jon Gray pushed back sharply against concerns of an artificial intelligence bubble on Wednesday, arguing the sector faces fundamentally different dynamics from past speculative manias. Contrasting his view with billionaire hedge fund manager Ken Griffin's recent warning that investors are "almost certainly" in an AI bubble, Gray emphasized that AI demand continues to outpace supply rather than the reverse—the traditional marker of unsustainable booms.