๐ฌ Leaning Into AI Is Paying Off, Blackstone's Gray Says
Blackstone Inc. reported a 26% jump in distributable earnings for the second quarter, buoyed by artificial intelligence-related investments. Blackstone President & COO Jon Gray says the "strategic decision to lean into AI, its infrastructure and compute shortage" is making a big difference for investors. He speaks with Bloomberg's Dani Burger on Bloomberg Open Interest.
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โค Blackstone reported a 26% increase in distributable earnings, attributing significant growth to strategic investments in AI infrastructure, including data centers and compute resources.
โค CEO Jon Gray believes Blackstone is undervalued and should trade at higher multiples, similar to tech companies, due to its AI-driven growth and strong performance, despite operating with a diversified business model.
โค The firm is actively expanding its AI-related investments through partnerships and acquisitions, while also managing traditional assets and seeing a bifurcation in market liquidity between AI-affected and unaffected businesses.
#Blackstone #AI #Data Centers
#Private Equity #Investment
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