BlackRock CEO Larry Fink say in May 2026 event in Texas that trillions of dollars for AI data centers and power grid need to come from private savings accounts and pension funds.
Blackrock CEO says the money for data centers is going to have to come from our pensions, retirement accounts etc
byu/Snapdragon_4U ininflation
He talk about need for over $10 trillion investment in US infrastructure for AI in next 10 years.
Fink mean long-term investment accounts like 401k and pensions, not normal bank savings. BlackRock spokesperson confirm this.
This is how retirement money already invest in stocks and companies. But post make it sound like forced taking from people.
Data centers for AI use huge money for building and electricity. US want to lead in AI so need big investment.
Snopes fact check on Fink statement about savings and pensions for data centers: https://www.snopes.com/fact-check/blackrock-ceo-savings-data-centers/
Yahoo Finance article explaining BlackRock CEO quote on AI infrastructure funding: https://finance.yahoo.com/economy/policy/articles/fact-check-blackrock-ceo-said-130000549.html
BlackRock official 2026 Chairman’s Letter discussing AI and long-term investing: https://www.blackrock.com/corporate/investor-relations/larry-fink-annual-chairmans-letter