Enterprise AI Cloud Leader

President and COO of Blackstone, Jon Gray, on why he doesn't believe AI is a bubble: "I like to remind people, in a classic investment bubble, what you get is enormous spend of capital to build capacity to meet some estimated future demand. That's what happened with railroads at the end of the 19th century, it's what happened with telecom infrastructure at the end of the 20th century. By the way, in both cases, it was done with a lot of leverage." "Now let's talk about what is happening with AI infrastructure today. We are seeing the exact opposite. In this case, the demand is exploding upward. Our companies are spending 20x more on models, individuals are using these tools with things like Instinct and Muse. Their usage is going up. Demand we see everywhere exploding going to the right, and supply is behind as opposed to ahead. Most of the supply is being contracted by the biggest, most well capitalized companies in the world." Via @blackstone $NVDA $NBIS $CRWV $GOOGL $META $AMZN $MSFT