Blackstone's gray challenges AI bubble claims amid rising investment

On 2026-10-22, Blackstone President Jonathan Gray dismissed concerns about an AI bubble, highlighting what he described as 'parabolic' demand for AI technologies. The discussion unfolded during a Bloomberg Open Interest session, where Meta's recent performance exceeded Wall Street expectations, though its aggressive AI spending has sparked new worries. Meanwhile, Tesla has scaled back its investment in AI initiatives. Financial analysts Gabriela Santos of JPMorgan and Ben Snider of Goldman Sachs examined whether the AI boom can translate into tangible profits, offering insights into potential investment opportunities. Gray's comments reflect a broader debate within the financial sector about the sustainability of current AI spending trends. The report underscores the mixed signals from major tech firms, with some increasing their bets on AI while others adopt a more cautious approach.