Blackstone's Anthropic spend jumped from $25M to $525M in a year, but most firms fall into the AI optimization trap
jkubicki · x · 2026-10-06
At Blackstone's annual investor meeting, President Jon Gray compared the AI boom to the 1870-1900 technological transformation and revealed annualized Anthropic spending jumped from $25M to $525M in a single year — while warning that companies using AI merely to automate existing processes fall into an optimization trap. Legal-industry observer jkubicki adds that law firms are repeat offenders: few reprice their cost of delivery or seek net-new client value, and the real blocker isn't billable hours but apathy and having no one who owns the economic model of AI impact.
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