According to Woofun AI, BlackRock (BLK.US) CEO Larry Fink issued a stern warning that if the US imposes a ban on data center construction, a recession will be inevitable. This view came on the heels of BlackRock (BLK.US) announcing a new high of $15.5 trillion in assets under management, highlighting the central position of AI infrastructure in the current economic landscape.
The underlying reason is that capital expenditure has become an engine of growth. Wall Street analysts expect capital expenditure in the AI sector to exceed $1 trillion in 2027 and surpass $5 trillion by 2030. According to data compiled by Woofun AI, Harvard University economist Jason Furman estimates that about 92% of the US economic growth in the first half of 2025 came from investment in the technology sector. Fink pointed out that data center construction directly drives the demand for construction workers, computer hardware, and power grid power supply, and is a key source of job creation.
However, the controversy focused on community concerns about rising electricity costs, excessive water consumption, environmental damage, and investment transparency. In July, New York State suspended new data center licenses for up to one year. Meanwhile, BlackRock (BLK.US) revealed in its third-quarter earnings report that its 'Artificial Intelligence Infrastructure Partner Program' has completed its initial capital investment. Market questions have also arisen. Hawke Tan of Broadcom (AVGO.US) compared some AI investors to gamblers, while Ray Dalio warned that the bubble was about to burst.
The final ruling is in the hands of the voters. There are only 20 days left until the November 3 midterm elections.