Larry Fink argues that the main risk of the artificial intelligence boom is not building too many data centers, but building them too slowly. In an October 21, 2026 interview with Bloomberg, he said delays could drive up computing costs and fuel inflation, while faster construction could eventually lower those costs. A week earlier, on October 14, he told CNBC that a data center construction moratorium could push the United States into recession by reducing capital spending. More than 100 localities had approved moratoriums by July 2026, including New York State and Loudoun County, Virginia. Moody’s estimates that U.S. data center spending will reach about $700 billion in 2026.
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