BlackRock CEO Larry Fink Warns Data Center Moratoriums Could Trigger US Recession

BlackRock $BLK CEO Larry Fink warned that a moratorium on data center construction could trigger a recession by slowing power grid expansion and capital spending, according to CNBC. Fink estimates the US requires between $7T and $9T in power grid and security infrastructure investment over the coming years to sustain AI infrastructure and compete with China's expanding nuclear and solar capacity. The warning follows New York's enactment of a 1-year moratorium around July 15–16, 2026 on environmental permits for large data centers drawing 50 MW or more, alongside approximately 100 US localities that have proposed or enacted data center moratoriums over rising electricity costs and environmental impacts. World's largest asset manager BlackRock has a direct financial stake in the build-out, holding an 80% stake in a Meta $META Texas data center project supported by more than $12B in debt financing. AWS CEO Matt Garman has similarly warned that regulatory interventions of this kind could inflict long-term damage on US competitiveness.