Why Blackstone Thinks AI Bottlenecks Could Work in its Favor

Greetings! On their earnings calls earlier in the week, Meta Platforms and SpaceX delivered the same underlying message to investors: demand for AI is running ahead of the supply of AI compute. On Thursday, another important player in the AI ecosystem—Blackstone, the alternative asset management giant—repeated a version of that refrain. On its own earnings call, the firm, a major investor at the center of the AI data center boom, faced pointed questions from analysts about rising financing costs and mounting investor concerns over the sustainability of the buildout. Its executives argued that