BlackRock CEO warns AI slowdown could trigger recession

BlackRock CEO Larry Fink has warned that restrictions on artificial intelligence data center construction could push the U.S. into a recession, while raising concerns about the country’s $40 trillion national debt during an October 14 interview. Summary BlackRock CEO Larry Fink warned that stopping U.S. data center construction could trigger economic recession. Fink raised concerns about America’s $40 trillion national debt and increasing government demand for credit. BlackRock reported $205 billion in quarterly net inflows, taking managed assets to $15.5 trillion worldwide. Pew Research found growing public opposition to data centers over environmental damage and electricity costs. BlackRock’s Bitcoin ETF provides cryptocurrency exposure while the company expands investments in artificial intelligence infrastructure. CNBC reported that Fink considers spending on artificial intelligence infrastructure an important source of U.S. economic activity. The executive warned that stopping major construction projects could reduce business investment at a time when federal borrowing and rising interest rates are already placing pressure on financial markets. His comments followed BlackRock’...