Blackstone’s Jas Khaira says fears over AI-buildout debt are overblown

Key points

• Blackstone executive Jas Khaira has played down fears that debt funding the AI infrastructure buildout could trigger a credit crisis. He said the debt is largely backed by the most creditworthy companies, such as hyperscalers.
• Khaira acknowledged that rising borrowing costs and higher credit spreads have unsettled markets. Shares of CoreWeave fell more than 20% in recent days, and Firmus cancelled a planned listing on the Australian Securities Exchange.
• Khaira said the AI adoption gains across Blackstone's portfolio are real but uneven.