Key facts
- Asia-Pacific tech fundraising more than tripled to $125.8 billion in the first three quarters of 2026 from $36 billion a year earlier.
- Blackstone president Jon Gray said demand for computing power was running well ahead of supply.
- JPMorgan vice chairman Daniel Pinto said the market was pricing in too steep a revenue and earnings growth curve for AI companies.
- Morgan Stanley CEO Ted Pick flagged early signs that US markets were edging close to a correction.
Global financial leaders said on Tuesday, November 3, 2026, that technology companies need to deliver more large fundraising deals to meet the capital demands of the AI industry's growth boom, while warning of a possible correction. Speaking at the Hong Kong Monetary Authority's Global Financial Leaders' Investment Summit, Blackstone president Jon Gray said demand for computing power was running well ahead of supply, which he described as extraordinary.
Goldman Sachs chief executive David Solomon said strong companies with good stories would still be able to raise capital, though he cautioned that investors would sometimes pick wrong and lose money. JPMorgan vice chairman Daniel Pinto said he was bullish on AI but that the market was pricing in revenue and earnings growth that was too steep, and that a correction in the AI sector was possible. Citadel Securities chief executive Peng Zhao said the scale of AI capital and growth was hard for some investors to value correctly, adding to volatility.
Morgan Stanley chief executive Ted Pick flagged early signs that US markets were edging close to a correction, with a majority of stocks in major indices off nearly 10%. The report also said fundraising by Asia-Pacific tech companies more than tripled to $125.8 billion in the first three quarters of 2026 from $36 billion a year earlier, driven by semiconductor and AI-related deals including Chinese chipmaker CXMT's $9.8 billion IPO and Enflame Technology's $910.6 million listing, according to LSEG data.