Canada Is a Sleeping Giant Economically, Says Blackstone's Gray

Watch on YouTube ↗  |  September 15, 2026 at 20:50  |  2:31  |  Bloomberg Markets
Speakers
Jon Gray — President & COO, Blackstone

Summary

Blackstone President Jon Gray argues Canada is a sleeping economic giant with exceptional natural resources, talent, and innovation. He says AI-driven infrastructure demand creates a major opportunity for Canadian critical minerals, natural gas, hydropower, and data centers, while private capital will be needed for large projects. Gray also points to improving Canadian permitting, regulation, and taxation as catalysts for stronger-than-expected growth.

  • Jon Gray calls Canada a sleeping economic giant with strong human talent and natural resources.
  • He highlights critical minerals, natural gas, and hydropower as key Canadian advantages for AI infrastructure.
  • Canada's data-center capacity is only about one gigawatt, far below the US, but low-cost energy and cool climates help.
  • Large mining and LNG projects are hard to finance in public markets and need private capital.
  • Canada's focus on economic independence and possible permitting, regulation, and tax reforms could attract investment.
  • Gray expects Canada's potential growth rates to be higher than most people anticipate.
Ideas
Jon Gray President & COO, Blackstone 0:08
Canada's resources benefit from AI infrastructure.
Canada's natural resources are extraordinary, especially critical minerals, natural gas, and hydropower. The coming AI-driven need for physical infrastructure will require enormous natural-world inputs, and Canada is almost a perfect location to supply them.
Canadian critical minerals Canadian natural gas Canadian hydropower HIGH
Jon Gray President & COO, Blackstone 0:40
Private capital needed for Canadian projects.
Projects such as mineral extraction and multi-year LNG pipelines need private capital because they are hard to finance in public markets before they are cash-flowing; once stabilized they become easier to finance. This creates a large opportunity for private-capital providers in Canadian infrastructure and resources.
Private capital MED
Jon Gray President & COO, Blackstone 1:04
Canada is well positioned for data centers.
Canada has only about one gigawatt of operating data-center capacity, a tiny fraction of the US, but it has low-cost available energy, cooler climates, abundant land, and sites far from population concerns. If Canada uses these advantages, it is well positioned to capture the AI data-center buildout.
Canadian data centers HIGH
Jon Gray President & COO, Blackstone 1:42
Canada is a sleeping economic giant.
Canada is a sleeping economic giant with exceptional talent, universities, innovation, and natural resources. After a decade of cumulative regulatory, permitting, and taxation burdens, Canada is now focused on economic independence and accelerating permitting and improving regulation and taxation to attract investment, so Gray expects potential growth rates to be much higher than most people expect.
EWC HIGH
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This Bloomberg Markets video, published September 15, 2026, features Jon Gray discussing Canadian critical minerals, Canadian natural gas, Canadian hydropower, Private capital, Canadian data centers, EWC. 4 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Jon Gray  · Tickers: Canadian critical minerals, Canadian natural gas, Canadian hydropower, Private capital, Canadian data centers, EWC