Some surprising remarks by BlackRock CEO Larry Fink about renewable energy. During a special meeting of the World Economic Forum in April, Fink seemingly walked back BlackRock’s green energy support saying wind and solar power sources can’t adequately power artificial intelligence and data centers. The energy demands of such infrastructure are too much for wind and solar energy energy companies to handle and he is saying we have to realistic on how to accommodate the energy needs of data centers and artificial intelligence.

In fairness, BlackRock is making a shift to cryptocurrency, and he has a vested interest to advocate for the best way to power data centers that mine products, like Bitcoin. However, even despite his virtue signaling with ESG funds, it doesn’t blind him from the realities of the market.

PHOTO CREDIT: Pixabay

NOTE: This is an update of a previous post where the video was changed to better meet the subject matter.