BlackRock CEO Larry Fink warns US recession if data center construction is halted

Larry Fink said any US moratorium on data center construction would lead to a recession because AI building work now drives much of the economy. Wall Street analysts estimate AI capital spending could exceed $1 trillion in 2027 and surpass $5 trillion by 2030. While BlackRock's AI Infrastructure Partnership has made its first deployment, local communities in places like New York have paused permits due to concerns over utility bills, water use, and environmental impact.