Blackstone has invested significantly in AI infrastructure, holding $80 billion in data center assets and planning to expand further. However, the emergence of DeepSeek, a Chinese AI model reportedly 20 to 40 times more efficient than OpenAI, raises questions about the sustainability of these investments. Blackstone's COO Jon Gray acknowledged a potential shift in demand due to decreasing computing costs. While the firm remains optimistic about the AI segment, market reactions to DeepSeek have impacted Blackstone's share price despite record earnings in the fourth quarter.
"The real question is what is demand going forward?"
"We still think it's a very important segment, and there's a way to run, but obviously, we're watching what's happening very closely."
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