Erik McGregor/Getty ImagesBlackstone does not expect growing competition to drive down returns on its new investments in AI infrastructure, at least not anytime soon, said COO Jon Gray. "It's very hard to get the chips today, it's very hard to get the power, it's very hard to get the entitlements [to build data centers]," he added. Blackstone has the land, power and permissions to accommodate an estimated $200 billion in new data centers, Gray said. Gray's comments come amid signs of cooling in the AI infrastructure boom. Texas-based Sabre designs and manufactures electrical transmission and distribution infrastructure for the power utilities, data center and telecom sectors.