International News

AI’s biggest challenge is power, says BlackRock CEO

Published

2 months ago

July 6, 2026

Artificial intelligence’s biggest obstacle is no longer advanced computer chips but access to electricity, BlackRock Chairman and Chief Executive Larry Fink has said, warning that the United States must modernise its ageing power grid or risk slowing the next wave of technological innovation.

Speaking in an interview with CNN’s Fareed Zakaria GPS, Fink said the rapid expansion of AI is creating unprecedented demand for computing power, exposing weaknesses in America’s electricity infrastructure.

“We don’t have enough power in the United States,” Fink said, describing electricity as the most significant constraint on AI development.

He said the United States has adequate energy resources, particularly natural gas, but lacks the transmission infrastructure needed to distribute electricity efficiently.

“We have plenty of power through natural gas, but we can’t distribute it in a proper way,” he said, adding that the country would need to invest “hundreds of billions of dollars” in expanding and upgrading its electricity grid.

“And if we don’t do that, we are not going to succeed in A.I.,” he said. “A.I. is just a bunch of electrons. So you need the power to create the electrons.”

Fink argued that demand for AI computing capacity currently exceeds supply, driving shortages not only in advanced chips but also in electricity and other critical infrastructure.

“At this moment, there’s more demand than supply,” he said. “We have shortages of compute right now which to me is the biggest problem we have in this country today.”

He warned that unless computing costs fall significantly, smaller organisations could struggle to benefit from the AI revolution.

“I’m not worried about BlackRock or J.P. Morgan having the money to invest in these models,” Fink said. “But I am very worried about municipalities or hospitals. Are they going to invest in this?”

Calling for wider access to AI technologies, he said the United States must “democratise A.I.” so that hospitals, local governments, transport systems and small businesses can also deploy advanced AI tools.

“If we can’t do that, then we’re going to have some real structural issues,” he said.

Fink also dismissed concerns that equity markets are in a speculative bubble despite massive investment in artificial intelligence. Instead, he said unusually strong demand had created shortages that allowed some companies to command significantly higher prices for their products.

Discussing the broader economy, Fink said recent geopolitical shocks, including the conflict involving Iran, demonstrated the resilience of the global economic system.

“The global economy actually mitigated much of the stresses,” he said, pointing to increased energy production, diversification of supply and technological adaptation. “We solve problems.”

On the US fiscal outlook, Fink argued that sustained economic growth offered the best path to managing rising government debt.

“If we cannot grow the economy by three per cent a year, we’re in trouble,” he said, urging policymakers to encourage private investment and streamline infrastructure approvals rather than relying on higher taxes.

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International News

Yemen Houthis claim major missile, drone attack on Saudi air base

Published

3 hours ago

September 14, 2026

Mumbai Press

Sanaa, Sep 14: Yemen Houthi group said Monday that it had launched dozens of ballistic missiles and drones at a major military air base in southwestern Saudi Arabia, marking a significant escalation in the widening cross-border confrontation.

In a statement carried by Houthi-run al-Masirah TV, military spokesperson Yahya Saree said the group fired dozens of ballistic missiles and drones at King Khalid Air Base in Khamis Mushait, a southwestern Saudi city near the Yemeni border.

Saree said the operation targeted fighter-jet hangars, radar systems, runways, ammunition depots and other military facilities at the base, claiming that the strikes were “precise and direct” and caused significant damage, Xinhua News Agency reported.

There was no immediate comment from Saudi authorities on Monday’s Houthi claims or information on possible casualties and damage.

Saree said the operation was carried out in retaliation for what the group described as an intensifying Saudi air campaign across Yemen, claiming that Saudi F-15 and Typhoon fighter jets had conducted more than 300 airstrikes on several Yemeni provinces in recent days.

He warned that the Houthis would continue launching attacks deep inside Saudi territory as long as airstrikes on Yemen continue, saying any further escalation would be met with broader military operations.

The claim came amid a sweeping Houthi offensive launched on Sept. 3 that has rapidly redrawn front lines along Yemen’s Red Sea coast, with the group capturing several government-held areas in the Red Sea Hodeidah province and neighboring southwestern Taiz province.

The Houthis captured the strategic port city of Mocha on Thursday before pushing south into the Bab al-Mandab Strait area and seizing Mayun Island at the heart of the strait, tightening their grip on the vital shipping chokepoint connecting the Red Sea with the Gulf of Aden.

Following the advance on Friday, the Houthis said international navigation through the strait remained “free, safe and smooth,” while stressing that Saudi vessels remained excluded under a maritime ban the group imposed on July 20.

Yemen’s conflict erupted in late 2014 when the Houthis seized Sanaa and much of northern Yemen, prompting a Saudi-led coalition to intervene in March 2015 in support of the internationally recognised government.

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International News

Iran says Oman meeting postponed at Saudi Arabia’s request

Published

5 hours ago

September 14, 2026

Mumbai Press

Tehran, Sep 14: Iran’s Foreign Ministry spokesman Esmaeil Baghaei said on Monday that a meeting between the foreign ministers of Iran and Gulf states scheduled to be held on the same day in Oman was postponed at Saudi Arabia’s request.

He made the remarks at the weekly press conference in the Iranian capital Tehran after Omani Foreign Minister Sayyid Badr bin Hamad Al Busaidi announced the meeting’s deferral the previous day in a post on social media platform X.

Baghaei rejected “incorrect” reports that the meeting was postponed due to the ongoing developments between Saudi Arabia and Yemen’s Houthis, describing such speculation as “giving a wrong address.”

The meeting was originally scheduled to be held in the Omani City of Salalah on Monday.

“In the interests of consensus, the regional meeting set for tomorrow in Salalah has been postponed,” Omani FM Al Busaidi said on X.

“We remain committed to fostering dialogue that supports stability and lasting cooperation in our region,” he added.

Confirming the meeting’s deferral in an interview with Iran’s official news agency IRNA, Mohammad Ali Bak, director general of the Persian Gulf at the Iranian Foreign Ministry, said it was postponed to another date at some regional countries’ requests and based on a joint decision by Iran and Oman.

The official stressed that Iran is in close consultations with Oman to ensure the necessary arrangements and coordination regarding the appropriate time for holding the meeting, Xinhua News Agency reported.

Baghaei on Friday announced that Gulf littoral states’ foreign ministers were scheduled to meet in Oman on Monday to exchange views on regional issues, including the Iran-Oman talks on designating safe routes in the Strait of Hormuz.

Speaking to the media on Saturday, Baghaei said the gathering would “hopefully” be attended by foreign ministers from Gulf states as well as Iran and Iraq.

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International News

Meeting between Iran, Gulf states scheduled in Oman postponed

Published

5 hours ago

September 14, 2026

Mumbai Press

Muscat/Tehran, Sep 14: A meeting between Iran and Gulf states scheduled to take place in the Omani city of Salalah on Monday has been postponed, according to a social media post by Omani Foreign Minister Sayyid Badr bin Hamad Al Busaidi on Sunday.

“In the interests of consensus the regional meeting set for tomorrow in Salalah has been postponed,” Al Busaidi said on X.

“We remain committed to fostering dialogue that supports stability and lasting cooperation in our region,” he added.

Iran’s Foreign Ministry spokesman Esmaeil Baghaei announced on Friday that Gulf littoral states’ foreign ministers were scheduled to meet in Oman on Monday to exchange views on regional issues, including the Iran-Oman talks on designating safe routes in the Strait of Hormuz.

Speaking to media on Saturday, Baghaei said the gathering would “hopefully” be attended by foreign ministers from Gulf states as well as Iran and Iraq.

Meanwhile, Iraq announced on Sunday a phased reopening of three major border crossings with neighbouring Iran, following administrative and technical reviews to enhance security and streamline border movement.

According to a statement by the Security Media Cell (SMC), affiliated with the Iraqi Joint Operations Command, the decision was made under the directives of Iraqi Prime Minister Ali al-Zaidi to upgrade organisational and technical infrastructure at the Shalamcheh, Mandali, and al-Sheeb border crossings.

Under the schedule, passenger travel through the al-Sheeb and Shalamcheh border crossings resumed at 6 am on Sunday, while commercial trade activities at Shalamcheh will resume on Monday, followed by Mandali on Tuesday and al-Sheeb on Thursday, the statement said.

The SMC emphasised that trade and passenger movement with Iran at the Zurbatiyah and al-Munthiriya crossings have remained unaffected and continue to operate around the clock.

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