During an interview with CNBC, Larry Fink highlighted the potential economic repercussions of halting data center construction, stating that such a moratorium could push the economy into recession.
He pointed out that significant investments in artificial intelligence infrastructure are vital for economic growth, with Wall Street analysts projecting AI capital expenditures to exceed $1 trillion by 2027 and $5 trillion by 2030.
Fink addressed local opposition to data centers, which has become a prominent issue in the upcoming midterm elections, citing concerns over utility costs and environmental impacts. However, he argued that much of the opposition is based on misinformation and stressed that data centers are crucial for job creation and the demand for construction and energy infrastructure