Markets·October 22, 2026 at 12:44 PM EDT·1 source
The AI Spending Profit Test, Blackstone's Gray sees "Parabolic" Demand
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News
What happened
- Meta exceeded Wall Street targets, while its increased AI spending raised concerns about profitability.
- Tesla pulled back on spending, and Blackstone President Jonathan Gray pushed back on fears of an AI bubble.
- JPMorgan’s Gabriela Santos and Goldman Sachs’ Ben Snider discussed whether the AI boom can deliver profits and where investors may find the next winners.
Why it matters
The discussion is relevant to technology and investment professionals assessing whether elevated AI spending can generate profits and whether current valuations reflect bubble risk.
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Timeline
- EarlierOct 19Indonesian Stocks Tumble to Lowest Since 2020 After MSCI Warning
- EarlierOct 19Tech Earnings Ahead: SpaceX, Meta to Test AI Monetization
- First reported by BloombergOct 22The AI Spending Profit Test, Blackstone's Gray sees "Parabolic" Demand
Who is involved
The AI Spending Profit Test, Blackstone's Gray sees "Paraboli…MetaTeslaTSLABlackstoneBXJPMorganGoldman SachsGSJonathan GrayGabriela SantosBen Snider
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Sources (1)
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