JAKARTA - Larry Fink, CEO of the world's largest asset manager, BlackRock, opened talks with various governments to seek critical investment funding methods that support artificial intelligence (AI). This includes an increase in electricity supply, on Friday 17 May.

AI is considered a big boost for global productivity, but requires data centers and semiconductor factories that require a large amount of electricity.

Larry Fink spoke online at a meeting in Rome of the B7 business group of the Group of Seven (G7) countries. The conference precedes next week's meeting in Italy from finance ministers and central banks of the more advanced economy in the G7.

"This AI data center will require more power than we ever imagined. We at G7 don't have enough power," Fink said. "I think this will create real competitive challenges for countries."

According to Finki, data centers are likely to be built in cheaper power supply sites, increasing the need for subsidies in countries where energy costs are not competitive.

Investasi untuk membangun pusat data dan pabrik chip yang mendukung teknologi AI dan memberi mereka daya, yang BlackRock menilaikan "triliunan dolar", memerlukan partisipasi investor swasta dan bisa menjadi peluang besar bagi dana pensiun dan perusahaan asuransi, tambah Fink.

Japan on Tuesday, May 14 said it expected the electricity output demand to rise 35% to 50% by 2050 as demand increased from semiconductor factories and data centers supporting AI.

"We are talking to many governments right now about how to bring private capital," Fink said, adding that G7 countries cannot bear the costs given the risk of "fiscal crisis". The deficit we see in the G7 is a burden for my children, your children, our grandchildren."

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