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 BX.N 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.