Blackstone stock: Jon Gray sees more AI capital raising ahead
Published on 11/03/2026 at 13:39 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSAI financing demand stays central
- Blackstone President Jon Gray expects major technology companies to raise more equity as demand for computing capacity outpaces supply.
- Blackstone is active in AI infrastructure and agreed to provide financing tied to Anthropic's planned purchase of Broadcom equipment.
- Gray said higher capital costs and market scepticism could slow the pace, while the broader investment trend remains positive.
Blackstone President Jon Gray said on Tuesday, November 3, that technology companies will need to raise more capital to meet demand from the artificial intelligence buildout. Speaking at the Hong Kong Monetary Authority's Global Financial Leaders' Investment Summit, Gray said demand for computing power is running well ahead of supply, a view that supports continued financing activity across the sector.
Reuters reported that Gray expects more equity fundraising by major technology companies. He cited potential offerings by Meta, Alphabet, Oracle, SpaceX and Anthropic, alongside the data-center and energy investment required to support rising computing demand.
Blackstone has direct exposure to the financing theme. Reuters reported that the asset manager agreed last week to provide 63 billion US dollars of financing with Bank of America, Citigroup and Morgan Stanley for Broadcom chips and networking equipment intended for Anthropic. Gray said higher borrowing costs and current scepticism could slow the pace of investment, but maintained that the longer-term trend points to greater demand for several forms of capital.
Growth brings valuation and execution risks
The comments also underline the risks for investors in the sector. Other financial leaders at the Hong Kong meeting warned that AI-related valuations could be vulnerable if revenue and earnings growth fall short of market expectations. Reuters reported that the scale of planned spending and the difficulty of assessing future revenue are adding to volatility.
For Blackstone, the opportunity lies in arranging debt, equity and infrastructure capital rather than relying only on one investment channel. That can broaden the addressable market for its private-markets, credit and infrastructure platforms, while also exposing the firm to underwriting, valuation and concentration risks if AI investment slows sharply.
Blackstone stock traded at 107.13 euros on Lang & Schwarz at 13:33 CET on Tuesday, November 3, 2026; the real-time quote of Blackstone stock is available here.
Blackstone Inc. at a glance
- Company: Blackstone Inc.
- ISIN: US09260D1072
- Ticker: BX
- Home exchange: New York Stock Exchange
- Lang & Schwarz quote: 107.13 euros at 13:33 CET on November 3, 2026
US equities remain sensitive to expectations for AI spending, financing conditions and possible corrections; investors can follow the S&P 500 market environment.
Further developments around the financing cycle, fundraising and private-market deployment can be followed in more news and analyses on Blackstone stock.
