AI development is biggest economic growth driver, Blackstone says

Jan 29 (Reuters) - ⁠Investment ⁠in ‍developing artificial intelligence is ‍the biggest driver of ​economic growth in the ​United States today, leading executives at the world's largest ​alternative asset manager Blackstone said ​on Thursday.

With particular relevance to ‌private capital groups like Blackstone, "the build-out of ​AI requires ⁠a massive amount of private debt ‌capital for construction" of facilities including ‌semiconductor fabrication plants and ‌data centers, president and chief operating officer Jon ‍Gray said on a conference call.

(Reporting ⁠by Arasu Kannagi Basil in Bengaluru and Isla Binnie in New York)

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