Larry Fink warns US data center pause could cause recession
Business
BlackRock CEO Larry Fink says pausing US data center construction could tip the economy into a recession, since these hubs power AI.
He cautioned, "a moratorium of some sort in this country" would put the US in a recession.
Moody's projects US data center spending will hit $700 billion this year and may soar to $2.48 trillion by 2030.
Fink urges unlocking US private capital
Fink is also worried about the national debt, which has jumped from $8 trillion in 2000 to about $40 trillion in 2026, "That's a massive impact on demand for credit."
He suggests, "We need to unlock private capital to grow the US economy by 3%."
Still, BlackRock had a strong quarter with $205 billion in new client money and a 19% revenue boost.