Jon Gray says impatience about AI returns is 'a little misplaced'
Jon Gray, the president of Blackstone, said it "takes some time" for AI applications to show up.Blackstone is invested across the AI ecosystem, and Gray said the growth has "a long way to run."The firm recently bought three hotels in the San Francisco area, the country's center of AI.Good, potentially very lucrative things will come to the AI investors who wait, if you ask Jon Gray.Gray, the president and chief operating officer at Blackstone, said that growing concern about the pace of the AI buildout is somewhat overblown."I'm not going to discount that there's not going to be misallocations of capital. There are people who are doing things that may not turn out to have high returns.
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Jon Gray, the president of Blackstone, said it "takes some time" for AI applications to show up.Blackstone is invested across the AI ecosystem, and Gray said the growth has "a long way to run."The firm recently bought three hotels in the San Francisco area, the country's center of AI.Good, potentially very lucrative things will come to the AI investors who wait, if you ask Jon Gray.Gray, the president and chief operating officer at Blackstone, said that growing concern about the pace of the AI buildout is somewhat overblown."I'm not going to discount that there's not going to be misallocations of capital. There are people who are doing things that may not turn out to have high returns. But I think the impatience is a little misplaced. It takes some time for the applications to happen," Gray said on an episode of Blackstone's quarterly market views video that aired on July 30.July was a turbulent month for AI-linked stocks.
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- What's the story?
- Jon Gray, the president of Blackstone, said it "takes some time" for AI applications to show up.Blackstone is invested across the AI ecosystem, and Gray said the growth has "a long way to run."The firm recently bought three hotels in the San Francisco area, the country's center of AI.Good, potentially very lucrative things will come to the AI investors who wait, if you ask Jon Gray.Gray, the president and chief operating officer at Blackstone, said that growing concern about the pace of the AI buildout is somewhat overblown."I'm not going to discount that there's not going to be misallocations of capital. There are people who are doing things that may not turn out to have high returns.
- How widely is it covered?
- 1 outlet, average source rating 6.0/10.
- When was it last updated?
- 17m ago.
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Jon Gray says impatience about AI returns is 'a little misplaced'
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