BlackRock (BLK.N) is currently engaged in discussions with multiple governments regarding strategies to finance essential investments in support of artificial intelligence (AI), including expanding power infrastructure, stated the CEO of the world’s largest asset manager on Friday.
AI is recognized as a significant catalyst for global productivity, yet its advancement relies heavily on data centers and semiconductor plants, both of which demand substantial electricity consumption.
Speaking remotely at a meeting of the B7 business groups held in Rome, which preceded the upcoming gathering of finance ministers and central bankers from the G7 economies in Italy next week, BlackRock CEO Larry Fink emphasized the pressing need to address the escalating power requirements of AI data centers.
Fink highlighted the formidable challenge posed by the escalating power demands of AI data centers, stressing that the G7 nations currently lack the necessary power capacity to meet these demands adequately.
BlackRock estimates that the investments needed to construct data centers and semiconductor factories supporting AI technologies, as well as to power them, could amount to trillions of dollars.
