Blackstone, a major global investor in data centers for A.I. systems, remains optimistic about the need for physical infrastructure despite the rise of Chinese A.I. start-up DeepSeek.
Jonathan Gray, Blackstone's president, stated that there is still a vital need for data centers and power, although the form of their use may change.
Blackstone has made significant investments in data centers, including the acquisition of QTS for $10 billion and leading a $24 billion deal to buy AirTrunk.
Mr. Gray expects wider adoption of A.I. as the cost of computing power decreases. Blackstone builds data centers only for technology companies with long-term leases.