[Blackstone President Refutes Artificial Intelligence Bubble Theory, Saying Demand Is Growing “Parabolically”] On October 22, Blackstone Group President Jon Gray refuted billionaire Ken Griffin’s statement a few days ago that there is a bubble in artificial intelligence (AI). "When you think of a bubble, you think of building capacity and then hoping for demand," Gray said on Thursday. "But in AI, you're building capacity and hoping you can keep up with demand." He said it was a "completely different situation" from phenomena such as the telecom bubble of the 1990s. It mentioned Ode, an AI consulting company jointly established by Blackstone and Anthropic. "We simply can't keep up with customer demand," he said. “Demand growth is almost parabolic.”