NewsMV
Larry Fink, chief executive of BlackRock, stated that a moratorium on data center construction in the United States would lead to a recession.
The warning came during a CNBC interview on Wednesday, shortly after the asset manager disclosed third-quarter earnings that exceeded expectations.
BlackRock shares, ticker BLK, rose approximately 1% in late morning trading.
Fink attributed the potential economic downturn to the heavy reliance of the current economy on capital expenditure for artificial intelligence infrastructure.
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