BlackRock CEO Larry Fink has issued a warning that putting a stop to data center construction could cause the economy to lose momentum.

Speaking after BlackRock reported third-quarter earnings that beat expectations on Wednesday morning, Fink said in an interview: "If the United States were to impose some form of ban on data center construction, we would fall into a recession."

Helped by the positive earnings report, BlackRock shares rose about 1% by midday.

Referring to the massive spending on artificial intelligence infrastructure, Fink added: "A large part of the current U.S. economy depends on the realization of this kind of capital expenditure project."

At present, strong local opposition to data center construction has become a major focal issue in the midterm elections on November 3.

Communities in various places face numerous problems, including rising utility costs, water consumption, environmental damage, and doubts about the transparency of investment.

Fink acknowledged that concerns about large-scale data center construction do exist in the market, but he also said: "Most of these concerns stem from misinformation."

This matter is of great importance. Wall Street analysts expect the total scale of capital expenditure in the artificial intelligence sector to continue rising, and over the next five years total AI capital expenditure may even exceed the gross domestic product of most countries.

The BlackRock CEO explained: "Data centers themselves are not the problem; they are creating an unprecedented number of new jobs."

Large-scale investment has driven demand for construction workers, physical digital infrastructure, AI computing hardware, and energy infrastructure needed to ensure power supply to the grid.