Blackstone President Jon Gray is calling for a significant increase in tech fundraising to keep pace with the AI industry's rapid expansion. Speaking at the Hong Kong Monetary Authority's Global Financial Leaders' Investment Summit, Gray noted that demand for computing power is running well ahead of supply. Global tech spending on AI is expected to exceed $730 billion this year, and he said spending on AI models across Blackstone's portfolio companies has risen 20-fold over the past year. Gray emphasized that equity financing will play a larger role, as debt investors face growing concentration risks.
Other financial leaders joined Gray in sounding cautious notes. Pimco CEO Emmanuel Roman warned that AI capital spending could reach around $10 trillion over five years, potentially straining markets. Goldman Sachs Chairman and CEO David Solomon stressed that financial institutions must maintain human oversight over AI systems, noting his firm has used AI in trading for nearly 20 years with human accountability attached. Solomon also said AI will likely make workers more productive rather than eliminating jobs, though short-term disruption may require policy support.
Major tech firms are already moving to raise substantial capital. Oracle is preparing a $10 billion share sale, and Meta announced a $98 billion equity raise. These fundraising efforts reflect the enormous investment demands of the AI buildout. Meanwhile, Data#3 plans to create a dedicated AI Practice and customer-facing delivery pods during FY27, naming Microsoft Copilot, Azure AI, Microsoft Fabric, and Azure Foundry as focus areas. The Australian company reported record gross sales of $3.4 billion in FY26, up 12.7 percent year over year.
On the cybersecurity front, Ballistic Ventures, co-founded by Ted Schlein, is seeking to raise $490 million across two new funds — $360 million for a flagship fund and $130 million for a separate vehicle. The fundraising comes as AI-driven cyberattacks increase, with Microsoft reporting a 50 percent rise in attacks over the past year. GitBook also disclosed a breach on November 2 in which AI agents gave an attacker access to infrastructure credentials, prompting the company to revoke API tokens and urge customers to rotate their keys.
AI is also making its way into consumer-facing applications. In the automotive industry, AI agents are being tested to negotiate car prices on behalf of buyers and sellers, reportedly saving customers about $2,800 per transaction. In China, makeup entrepreneur Lipstick King sold nearly 100,000 monthly AI subscription packages in just 30 minutes during Singles Day, marking the first time generative AI products took center stage at the Alibaba-hosted shopping event. Separately, the University of North Georgia launched a program to provide AI training to 34 small business owners, funded by a $97,300 USDA grant starting in January 2027.
Retailers are grappling with how to handle surging demand for AI hardware. Amazon closed AI creator Nick Saraev's account after he attempted to buy seven Nvidia DGX Spark mini-PCs, and Epic CEO Tim Sweeney reported his GPU orders were also canceled. Other users reported similar cancellations when trying to purchase high-end Nvidia GPUs, raising questions about how retailers monitor large computing purchases for AI work.
Key Takeaways
- <ul><li>Blackstone's Jon Gray says tech companies must raise more capital as AI demand for computing power outpaces supply</li><li>Global AI spending is set to exceed $730 billion this year, with Pimco warning AI capex could reach $10 trillion over five years</li><li>Meta announced a $98 billion equity raise while Oracle prepares a $10 billion share sale to fund AI expansion</li><li>Ballistic Ventures seeks $490 million for new funds as Microsoft reports a 50% rise in AI-driven cyberattacks</li><li>GitBook disclosed a breach where AI agents exposed infrastructure credentials, prompting key rotation for customers</li><li>Amazon canceled orders from Nick Saraev and Tim Sweeney for multiple Nvidia GPUs, raising concerns about retailer monitoring</li><li>Goldman Sachs CEO David Solomon emphasizes human accountability in AI systems, citing 20 years of AI use in trading</li><li>AI car-buying agents reportedly save customers about $2,800 per transaction through dynamic negotiations</li><li>China's Lipstick King sold nearly 100,000 AI subscriptions in 30 minutes during Alibaba's Singles Day event</li><li>University of North Georgia launches AI training for 34 small businesses with a $97,300 USDA grant starting January 2027</li></ul>
Blackstone president calls for more tech fundraising to match AI growth
Blackstone president Jon Gray said tech companies must raise more capital to keep up with the AI industry's rapid expansion. He spoke at an investment gathering in Hong Kong where he noted demand for computing power is running well ahead of supply. Global tech spending on AI is set to exceed $730 billion this year. Other financial leaders warned that the AI sector could face a correction and investors should stay diversified.
Blackstone president calls for more equity to fund AI buildout as debt risks mount
Blackstone President Jon Gray said AI infrastructure investment will require more equity financing because debt investors face growing concentration risks. Pimco CEO Emmanuel Roman warned that AI capital spending could reach around $10 trillion over five years, which may strain markets. Gray said demand for computing power is outpacing supply. He added that spending on AI models across Blackstone's portfolio companies has risen 20-fold over the past year.
Blackstone's Gray sees more AI equity fundraising ahead from major tech firms
Blackstone President Jon Gray said more global equity fundraising will be needed to meet the enormous demand from AI industry growth. He made the comments at the Hong Kong Monetary Authority's Global Financial Leaders' Investment Summit. Gray said most major technology companies are expected to raise more capital. His remarks come as Oracle prepares a $10 billion share sale and Meta announced a $98 billion equity raise.
Ballistic Ventures seeks $490M for AI cybersecurity investment funds
Ballistic Ventures, a cybersecurity-focused venture firm led by Ted Schlein, filed to raise $490 million across two new funds. The firm is seeking $360 million for its flagship fund and $130 million for a separate investment vehicle. The move reflects growing investor interest in AI-driven cybersecurity startups. Ballistic focuses on early-stage companies working on infrastructure security, application protection, and identity management solutions.
Ted Schlein's Ballistic Ventures seeks $490M for new funds amid AI cybersecurity boom
Ballistic Ventures, co-founded by former Kleiner Perkins partner Ted Schlein, is seeking to raise $490 million across two new funds. The San Francisco-based firm filed with the SEC to raise $360 million for a flagship fund and $130 million for a separate vehicle. The fundraising comes as AI-driven cyberattacks increase, with Microsoft reporting a 50% rise in attacks over the past year. Ballistic was founded in late 2021 and has backed companies including Talon Cyber Security.
New Beta Mixture Method Improves Low-Budget AI Evaluation
Researchers proposed a method that fits a mixture of Beta distributions to evaluate AI systems with fewer samples. The approach recovers Pass@k and AUC@k metrics in closed form and provides confidence intervals without extra model calls. It also supports sensitivity analysis by treating prompts as instances. Tests on math and science benchmarks showed more accurate estimates than naive methods when extrapolating beyond observed trials.
AI Agents Could Set the Price of Your Next Car
The automotive industry is testing AI agents that negotiate on behalf of buyers and sellers. Buyer-side agents can check inventory, schedule test drives, and negotiate prices, reportedly saving customers about $2,800 per transaction. Sellers use AI agents to sort leads, match inventory, answer questions, and set prices. The technology is shifting car sales from static window sticker prices to dynamic, agent-driven negotiations.
Amazon Closes AI Creator's Account Over Multiple GPU Purchases
AI creator Nick Saraev said Amazon closed his account after he tried to buy seven Nvidia DGX Spark mini-PCs. His orders were canceled, and Amazon cited previous attempts to verify his account. Epic CEO Tim Sweeney said his regular orders were also canceled just before arrival after he tried to buy two Nvidia GPUs. Other users reported similar order cancellations when attempting to purchase high-end GPUs. The incidents raised concerns about how retailers monitor large computing purchases for AI work.
Goldman Sachs CEO Says AI Needs Human Accountability
Goldman Sachs Chairman and CEO David Solomon stressed that financial institutions must keep human oversight over AI systems. He said governments, technology companies, and businesses share responsibility for safe AI use. Goldman Sachs has used AI models in trading for nearly 20 years with human accountability attached to each platform. Solomon also said AI will make workers more productive rather than necessarily eliminating jobs, though short-term disruption may require policy help.
AI Training Program Aims to Help Small North Georgia Businesses
The University of North Georgia launched an initiative to provide AI training to 34 small business owners in North Georgia. The program starts in January 2027 and is funded by a $97,300 USDA Rural Business Development Grant. Eligible businesses must be in Lumpkin County, earn less than $1 million annually, and employ fewer than 50 people. Organizers said the goal is to help small businesses use AI tools to stay competitive and preserve jobs.
GitBook Security Breach via AI Agents Prompts Key Rotation
GitBook disclosed a cyberattack on November 2 where AI agents gave an attacker access to infrastructure credentials. Exposed data may include API tokens, integration secrets, and user questions. The company revoked personal API tokens and told customers to rotate their keys. Crypto exchange PancakeSwap temporarily took its documentation offline before moving it to its own infrastructure.
China's Lipstick King Sells AI Subscriptions on Singles Day
China's makeup entrepreneur turned to AI sales during Singles Day, selling nearly 100,000 monthly AI subscription packages in 30 minutes. The live broadcast on Taobao and Tmall marked the first time generative AI products took center stage in the annual shopping event. The sales data was provided by the e-commerce giant Alibaba.
Data#3 Plans AI Practice and Delivery Pods for FY27
Data#3 will create a dedicated AI Practice and customer-facing AI delivery pods during FY27. The company reported record gross sales of $3.4 billion in FY26, up 12.7 percent from the prior year. Named AI areas include Microsoft Copilot, Azure AI, Microsoft Fabric, and Azure Foundry. No dollar investment, headcount, or launch date has been published yet.
Sources
- Blackstone president says more tech sector fundraising ahead to keep up with AI industry growth
- Blackstone president calls for more equity to fund AI buildout as debt risks mount
- Blackstone’s Gray sees more AI equity fundraising ahead from major tech firms
- Ballistic Ventures Seeks $490M for AI Cybersecurity Bet
- Ted Schlein's Ballistic Ventures seeks $490M for new funds amid AI-driven cybersecurity boom
- Few Trials, Many Metrics: Beta Mixtures for Low-Budget AI Evaluation
- Buying a car? The price of your next vehicle could be set by AI
- Amazon closes AI creator's account after he attempts to buy seven Nvidia DGX Spark mini-PCs — Epic CEO Tim Sweeney says his regular orders were canceled before arrival after he tried to buy two GPUs
- Goldman Sachs's David Solomon: AI Adoption Requires Human Accountability
- AI Training Hopes to Educate Small North Georgia Businesses
- Crypto Docs Host GitBook Hit by AI Agent Security Breach, Urges Users to Rotate Keys
- China’s ‘Lipstick King’ hawks tokens as AI gets Singles’ Day push
- Data#3 AI Practice: $3.4B Sales, FY27 Pods [2026]
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