$BX Blackstone COO Jon Gray: The current AI buildout differs from past infrastructure bubbles because demand is already ahead of supply. “Back then they were building supply on a highly leveraged basis ahead of the demand, very similar to what we saw with telecom infrastructure. They were anticipating what's to come. And of course, it didn't turn out well. Today we're seeing something much different. The demand is running well ahead of supply. Much of what is contracted, be it the energy or the data centers, is with companies who are very lowly leveraged as well. It doesn't mean there aren't going to be things that go poorly, but I think it is a different dynamic. We're going to continue to keep our eyes on this as we're deploying your capital

$MS Morgan Stanley Co-President Dan Simkowitz: "I sat in the same spot in our conference in March. I interviewed Jensen, and I presented him the tombstone from the original deal. Again, NVIDIA, $47 million IPO for Morgan Stanley. Mind-boggling in that context."

$NVDA CEO on AI labs: “If they say the alternative, which is: There is no way to contain our experiments, there’s just no way; when we test our A.I. models, it will get out, and it will damage the world — then I think the answer is that we have to shut the labs down. Because the cost to humanity, the damage is too great.”

$AXP American Express CFO Christophe Le Caillec: “So the building blocks of our financial model if you want are working really well, so in Q2 we raised a little bit our guidance when it comes to revenue. We guided towards 10%. And we reaffirm our EPS range which, by the way, does not include the gain that we expect to make on the sale of our GBT shares or how we're going to use the proceeds.”

$WMT: Walmart advertising carries >70% margins versus roughly 5% for core retail “We have a great high-margin advertising business, over 70% margins compared to 5-ish percent for the core retail business. And this profitability is incremental to Walmart.”

$SIRI Sirius XM Holdings CEO: YouTube expands SiriusXM’s addressable advertising audience to 255M monthly listeners, equivalent to ~90% of Americans aged 13+ “With YouTube now, we're going to be at 255 million monthly listeners, and that's 90% of the U.S. population above the age of 13. So it's just -- it's the scale of the audience that we have, the scale of the types of content we have and the scale of the advertiser relationships that I think maybe are not fully appreciated.”