This works and gives you the installed at path for each gem. This super helpful when trying to do multi-stage docker builds.. You can copy in the specific directory post-bundle install.
bash-4.4# gem list -d
Output::
aasm (5.0.6)
Authors: Thorsten Boettger, Anil Maurya
Homepage: https://github.com/aasm/aasm
License: MIT
Installed at: /usr/local/bundle
State machine mixin for Ruby objects