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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