Larry Fink says the world will be "short power" amid debate over data-center energy needs

At the World Economic Forum in Davos, BlackRock CEO Larry Fink commented on global electricity supply, stating that the world will face a power deficit. His remarks come amid a dispute in Australia over how to fuel a planned boom in data centers. The Northern Territory government supports building several large-scale AI data centers near Darwin, powered by gas from the Betaloo Basin, while the federal government wants new centers to rely solely on renewable energy. Energy ministers are set to debate the issue this week. Fink argued that wind and solar power alone cannot provide the round-the-clock, reliable electricity these facilities require, highlighting a tension between climate targets and the continuous energy demands of the data-center industry.