New Energy
BlackRock Sees Growth in Asia Infrastructure on AI Boom
- Growth of data centers has already pushed up energy demand
- Asia lags world in infrastructure investment, ADB says
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BlackRock Inc. sees huge growth opportunities in Asia for infrastructure to support a boom in artificial intelligence that’s also spurring energy and water demand.
“The need for data centers over the next five years is going to be double what is currently in the markets,” Brad Kim, BlackRock’s head of Asia Pacific diversified infrastructure, said at a media briefing on Wednesday. “Water infrastructure will need to almost double over the next five years,” he said, referring to cooling mechanisms, “and overall energy consumption will increase by about 50% in the next 10 years across Asia Pacific.”