BlackRock is warning that the steep capital and labor demands of the data center boom are emerging as one of the country’s “most stubborn bottlenecks” — a challenge that could undermine the US’ position in the global artificial intelligence race if left unaddressed.
BlackRock Chairman and CEO Larry Fink is calling a high-level stakeholder meeting in Washington, DC, next month to push for coordinated solutions, according to details shared first with Semafor.
The $14 trillion asset manager, along with its Global Infrastructure Partners unit, is hosting an infrastructure summit on March 11. Republican and Democratic lawmakers will meet with industry heavyweights during the event, including Chevron CEO Mike Wirth, UPS CEO Carol B. Tomé, and Meta President and Vice Chairman Dina Powell McCormick.
Transportation Secretary Sean Duffy, Energy Secretary Chris Wright, and Interior Secretary Doug Burgum, who chairs the National Energy Dominance Council, are also slated to attend.
BlackRock estimates up to $85 trillion in investment will be required over the next 15 years to modernize older systems and build out the new energy security and AI‑era infrastructure coming online. Meeting that demand, the firm says, will also require hundreds of thousands more jobs in specific, evolving trades.
“There is an enormous opportunity to rebuild America’s infrastructure and invest in the skilled trades that will deliver that buildout — from electricians to skilled construction workers and technicians — to scale affordable energy, data centers, and transportation networks,” Fink said in a press release.
“BlackRock is convening leaders from across the country because the investments we make now will shape America’s economic future for decades. These investments can drive long-term growth, resilience, and broader access to prosperity,” he continued.
Republican Sens. Steve Daines of Montana, Markwayne Mullin of Oklahoma, and Todd Young of Indiana will join Democrats Mark Warner of Virginia and Catherine Cortez Masto of Nevada at the one-day summit. Semafor is a media partner of the event.