VENDOR · US
Blackstone president warns AI infrastructure needs equity capital, not just debt
Blackstone President Jon Gray called for increased equity financing for AI data center buildout, citing concentration risk in debt markets. As capital intensity of AI infrastructure peaks, financial sponsors will shift from leveraged buyout models to equity-heavy coinvestment with tech platforms.
WHY IT MATTERS · EDITORIAL ANALYSIS
Reorients AI capex financing away from debt toward equity; banks face margin pressure on AI infrastructure lending while fintech and infrastructure funds grab GP stakes, fragmenting BFSI's historical advisory leverage.
Source: CNBC · 2026-11-03