Larry Fink, CEO of BlackRock, warned Wednesday that a moratorium on data center construction in the United States could trigger a recession. His warning comes as local opposition to data center projects intensifies ahead of the November 3 midterm elections, with communities concerned about rising electricity costs, water consumption and environmental damage. Wall Street analysts estimate AI capital expenditures could exceed $1 trillion in 2027 and surpass $5 trillion by 2030. Fink, however, argued that data centers are not the problem and are creating more new jobs than ever before.
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