BlackRock's CEO Sees 'Huge Winners and Huge Failures' Coming in AI

The CEO of New York-based BlackRock, which managed over $13 trillion in assets as of the third quarter, said that while hyperscaler CEOs "aren't certain if they're overspending or underspending," their conviction of future demand was high and most don't have the raw processing power needed to power their AI models. Key Takeaways There are worries about AI spending. Sometimes, that means worries that companies developing artificial intelligence capabilities aren't spending enough. Larry Fink, chief of BlackR ...