01:12 PM EDT, 05/17/2024 (MT Newswires) -- BlackRock ( BLK ) is discussing ways to fund critical investments required to back artificial intelligence with different governments, Reuters reported Friday, citing Chief Executive Officer Larry Fink.

Investments for data centers and chip factories backing AI could be "in the trillions of dollars" and need the participation of private investors, Fink said, according to Reuters. He spoke remotely at a meeting in Rome of the B7 business groups of the G7 states.

"These AI data centers are going to require more power than anything we could ever have imagined," Fink said, according to the report. "We at the G7 do not have enough power. I think this is going to create a real competitive challenge for countries."

G7 countries can't shoulder the expense because of the risk of a "fiscal crisis."

BlackRock ( BLK ) did not immediately respond to MT Newswires' request for comments.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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