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Search results for Larry Fink

AI & Enterprise

BlackRock CEO says U.S. needs trillions to maintain AI leadership; deposits, pensions may be tapped

The expansion of U.S. artificial intelligence infrastructure will require trillions of dollars in funding, and the pool of money could extend to ordinary Americans’ bank deposits and pension assets, a report said. BlackRock CEO Larry Fink said maintaining U.S. AI leadership requires sustained investment in R&D, data centres, power grids, semiconductors, telecoms cables and talent. Wall Street firms are also backing larger AI infrastructure spending.

Crypto

Crypto ties account for 40 percent of U.S. CEO delegation joining Trump\'s China visit

About 40 percent of the U.S. CEO delegation accompanying President Donald Trump on his China visit is directly or indirectly linked to cryptocurrency businesses, a report said. Trump is expected to visit Beijing this week with about 17 executives to meet President Xi Jinping, with the trip set for May 13 to 15. The delegation spans technology, finance, aerospace and agriculture, while attention focuses on firms tied to digital assets and related market implications.

AI & Enterprise

BlackRock CEO says AI-era shortages could turn compute into new asset class

BlackRock CEO Larry Fink said the spread of artificial intelligence could make computing resources a new asset class as supply lags demand. Speaking at a Milken Institute event, he said a futures market could emerge for buying and selling raw computing power, treating compute as a scarce resource that financial markets can price. He also said the United States lacks sufficient chips, memory and power capacity, and rejected concerns of overheating in AI investment.