Larry Fink, CEO of BlackRock, said during a CNBC panel on August 10 that the United States needs over $500 billion immediately and trillions more long-term to fund the infrastructure required for artificial intelligence. The country requires more than 70 gigawatts of power capacity for AI operations, at a cost of $50 to $60 billion per gigawatt. BlackRock’s AI Infrastructure Partnership (AIP), launched in September 2024 with Microsoft, Nvidia, and MGX, aims to invest up to $100 billion in data centers and power infrastructure. On July 21, BlackRock completed its acquisition of Aligned Data Centers for $40 billion. Fink also warned of the risk of worsening inequality if individuals do not benefit from this growth through market access.
Source: Read the original article
