Blackstone president confirms strong demand for data centers amid economic challenges

In the United States, on May 5, 2025, Jonathan Gray, president and COO of Blackstone, expressed optimism regarding the demand for data centers despite recent economic pressures, including President Donald Trump's tariffs. He observed a trend suggesting continuous growth in data center usage, reinforcing a sense of durability within the sector. Even as chip export restrictions create some obstacles, Gray noted that the overall demand remains robust. He also emphasized the necessity for reliable electricity to support this growth, acknowledging the global nature of the electricity challenge while anticipating increased investments from major corporations and government recognition of the issue. Furthermore, Gray conveyed his belief in a coming recovery in commercial real estate, shaped by a significant decline in new construction starts over the past three years. This slowdown could set the stage for revitalization across various segments, including office space, which has faced substantial difficulties since the onset of the COVID-19 pandemic. Gray maintained that the overall momentum in technology advancements, particularly in artificial intelligence, plays a crucial role in this optimistic outlook for both data centers and real estate. He also noted that while there may be short-term constraints, such as tariffs, the longer-term trajectory remains positive, as confirmed by recent financial rebounds among major tech companies. On May 6, 2025, the Illinois-based industrial company Dover announced its agreement to acquire Sikora, a German firm focusing on data center technology, for over $622 million. This acquisition is set to enhance Dover's capabilities within its pumps and process solutions segment, including thermal connections for liquid cooling systems in data centers. Despite prevailing macroeconomic uncertainties attributed to current tariffs, Dover's recent financial reports suggest steady growth in its data center business, which constitutes a notable portion of its overall revenue. The strategic move reflects both companies' commitment to growth in the data center sector, underlining the increasing relevance of this market amidst technological advancements and shifting corporate needs. Overall, the combining insights from industry leaders like Jonathan Gray and recent developments in companies like Dover indicate unwavering confidence in the future of data centers and related technologies, paving the way for further developments even in challenging economic situations.