During a business conference in Rome, BlackRock CEO Larry Fink highlighted the significant challenges Europe faces due to the immense power demands of artificial intelligence (AI) technologies. He expressed concerns that the high energy requirements of AI data centers could put Europe at a competitive disadvantage as these facilities tend to be located in regions where power costs are lower.
Fink, who was speaking via video link, emphasized that constructing AI data centers would necessitate “trillions of dollars.” He mentioned ongoing discussions with various governments regarding their capital needs for securing the necessary power supplies. This situation underscores the potential need for government subsidies in areas where energy costs are prohibitively high, to attract and sustain these power-intensive operations.
