Larry Fink Predicts Birth of Futures Market for Computing Power

BlackRock Inc. Chief Executive Officer Larry Fink said global demand for computing power is so huge that traders will one day be able to bet on a futures market for it.

“A new asset class will be buying futures of compute,” Fink said during a panel discussion Tuesday at the Milken Institute Global Conference in Beverly Hills, adding that the US lacks enough of that capacity, as well as chips and memory. “We just don’t have enough compute power right now.”

BlackRock, the world’s largest asset manager, is investing tens of billions of dollars in data centers and energy companies ...