\n\tBlackRock Inc. Chief Executive Officer Larry Fink said global demand for computing power is so huge that traders will one day be able to bet on a futures market for it.<\/p>\n
\u201cA new asset class will be buying futures of compute,\u201d Fink said during a panel discussion Tuesday at the Milken Institute Global Conference in Beverly Hills, adding that the US lacks enough of that capacity, as well as chips and memory. \u201cWe just don\u2019t have enough compute power right now.\u201d \n<\/p>\n
\n\tBlackRock, the world\u2019s largest asset manager, is investing tens of billions of dollars in data centers and energy companies through a partnership with Microsoft Corp., Nvidia Corp. and MGX, an investment vehicle in the United Arab Emirates, among others. The consortium led by BlackRock\u2019s Global Infrastructure Partners has announced it will acquire Aligned Data Centers for about $40 billion, and GIP is teaming up with private equity firm EQT to buy power provider AES Corp. for $10.7 billion in cash.
\n<\/p>\n
\n\t\u201cThere is not an AI bubble,\u201d Fink said. \u201cThere is the opposite. We have supply shortages. Demand is growing much faster than anyone has ever anticipated.\u201d <\/p>\n
\n\tOn the same panel, Brookfield Corp. CEO Bruce Flatt said the global economy is being transformed to be based on data centers, cloud computing and artificial intelligence.<\/p>\n
\n\t\u201cFor the next 10 years, we will be rewiring the global economy,\u201d he said.\u00a0<\/p>\n
\n\tThis article was provided by Bloomberg News.<\/p>\n","protected":false},"excerpt":{"rendered":"
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