Lin Jian

AI Infrastructure May Pay Off Before Its Applications Are Clear

Blackstone chief executive Stephen Schwarzman says the firm’s early AI investments grew out of a broader strategy: use information from its businesses to spot economic shifts before they appear in public data, then invest in the infrastructure those shifts require. He points to Blackstone’s $10 billion purchase of a data-center company in 2021 as a bet on AI’s power and computing needs, while arguing that the commercial returns may take years to emerge.