Blackstone beat earnings expectations driven by dealmaking and data center growth, with $71B new capital and $1.27T AUM.
Becky Quick
Asks about bubble concerns in markets and AI, noting data centers performing well.
Becky Quick
John Gray
Record quarter/year driven by leaning into AI infrastructure - biggest investor in data centers, biggest private capital supplier to utilities, active in electrical equipment.
John Gray
Deal environment hitting escape velocity, feels like 2013-14 post-GFC recovery with successful IPOs like Medline.
Asks what time frame AI market compares to and how far out demand visibility extends.
Becky Quick
John Gray
AI adoption still very early - just beginning deployment in coding, cyber monitoring, legal, marketing, compliance, summarization.
John Gray
While bubble concerns exist (comparing to 1999, electricity, railroads, internet), discounting superintelligence at massive scale would be a mistake.