Larry Fink

But do I believe that needed capital...

to build out AI is one of the great opportunities for the world to come.

When you think about the hundreds of billions of dollars of infrastructure that's necessary, countries are going to have to rebuild their grids.

We're going to have to source new powers of energy.

Last night at a dinner, we had an amazing conversation on how AI is going to change science and how it's going to improve human lives in terms of medicine.

But importantly, there's a strong foundational belief that AI is going to accelerate new sources of power.

And if we can have cheap sources of power, abundant cheap sources of power, maybe things that we can't even think of today through AI, imagine how that could lift the rest of the world.

$30 billion, yeah.

Well, we announced $12.5 billion.

We're actively raising more money.

We did already make an acquisition in Align data centers.

The total enterprise value was $40 billion.

But not only is Microsoft our partners, MGX of Abu Dhabi, NVIDIA is one of our partners, XAI is one of our partners.

And so we have an incredible partnership group in building this out.

And we are seeing more and more opportunity working alongside some of the best hyperscalers

And so we see nothing but opportunity and that, you know, but we have to be judicious and we have to be thoughtful about it.

But I'm very encouraged about what AI can do for humanity.

So if I go back to early Davos last year, I would say the average world investor had an unbelievable overall allocation in dollar-based assets.

And I think over the course of last year, we saw probably a 5% reallocation.

And that's fine.