BlackRock CEO warns Europe of AI lag risk

BlackRock CEO Larry Fink has warned that Europe and the United States risk falling behind in the global artificial intelligence race if they implement political moratoriums on data center expansion.

Speaking ahead of his participation in a German government investment summit in Berlin, Fink stated that China is currently better prepared for an AI-driven world due to its large-scale investments in nuclear power and renewable energy. He cautioned that slowing down AI development through regulatory hurdles could allow China to build superior computing power and create technological dependencies for other nations.

Fink emphasized that Europe and Germany must increase investments in AI infrastructure to avoid losing productivity to nations that are accelerating their development. He previously noted that in the United States, a moratorium on data center expansion could potentially trigger a recession, as much of the country's economic growth is driven by technology investments.