BLACKROCK LARRY FINK WARNS THAT HALTING AI DATA CENTER CONSTRUCTION COULD TRIGGER A US RECESSION

What happened: BlackRock (NYSE: BLK) CEO Larry Fink said a broad pause on US data center construction could tip the economy into recession, speaking on CNBC after the firm reported stronger-than-expected third-quarter results. Key numbers: BlackRock shares rose roughly 1 percent in morning trading. Why it matters: Fink tied the risk to how much of the economy rests on AI capex buildout, and said data centers are not the problem. Local opposition over power, water, and transparency has led some jurisdictions to weigh freezes.

BlackRock (NYSE: BLK) CEO Larry Fink said a broad pause on US data center construction could tip the economy into recession, speaking on CNBC after the firm reported stronger-than-expected third-quarter results.

Fink tied the risk to how much of the economy rests on AI capex buildout, and said data centers are not the problem. Local opposition over power, water, and transparency has led some jurisdictions to weigh freezes.