1535 ET - Blackstone and engineering company ABB both believe data center development will remain strong, even as DeepSeek's efficient AI model threatens energy demands, executives told analysts during earnings calls. Blackstone COO Jonathan Gray said the company's $80 billion data center lease portfolio could still see demand as lower AI costs bring in more usage and adoption. ABB CEO Morten Wierod said more energy efficiency could lower bottlenecks the company was facing as its data center business grew 15% in 2024. "The lower the cost of [AI], the wider the deployment," Wierod said. (katherine.hamilton@wsj.com)
(END) Dow Jones Newswires
January 30, 2025 15:35 ET (20:35 GMT)
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