TechCrunch Disrupt 2026: Blackstone’s Jas Khaira on building the next generation of AI giants

Blackstone's evaluation criteria for AI companies is now publicly shared, potentially influencing how startups approach fundraising and infrastructure investment.

Jas Khaira, global head of Blackstone N1, will speak at TechCrunch Disrupt 2026 on building successful AI companies. He will discuss Blackstone's criteria for investing in category-defining AI businesses, advising founders on capital allocation during rapid growth, and identifying companies with long-term viability over mere fast traction. The session, titled "Building the Next Generation of AI Giants," will highlight the significant capital requirements for AI infrastructure, citing Blackstone's up to $600 million primary equity investment in Indian AI infrastructure company Neysa and a $1.5 billion joint venture with Anthropic. Khaira's insights aim to guide founders on making strategic financing decisions to ensure enduring business success beyond initial momentum.

The AI sector's insatiable demand for capital, particularly for compute and data centers, is creating a new class of infrastructure-heavy startups. Blackstone's substantial investments in companies like Neysa and its joint venture with Anthropic underscore a significant shift in venture capital, moving beyond pure software plays to fund the foundational elements of AI. This implies that future AI giants will likely require not just innovative algorithms but also massive physical and computational resources, changing the profile of companies seeking funding.

Founders in the AI space must now consider the total cost of scaling, including infrastructure, as a primary factor in their financing strategies. Khaira's upcoming discussion suggests that investors like Blackstone are scrutinizing the long-term sustainability of AI business models, looking for more than just rapid user adoption. Startups that can demonstrate a clear path to profitability and durable competitive advantages, supported by sound capital allocation for infrastructure, will be better positioned to attract investment and achieve lasting success.