Blackstone’s Jon Gray rejects AI bubble talk as Citadel’s Griffin warns of risk

Blackstone's Jon Gray pushed back on warnings that AI stocks are in a bubble, while Citadel's Ken Griffin raised alarms about the same risk. The debate centers on AI infrastructure spending and whether current valuations are sustainable, which could drive volatility across markets. Traders care because a sharp AI-led selloff would likely spill into crypto, which has traded in step with tech risk assets.