BlackRock Partners with Building Trades Unions to Secure Data Center Labor
BLK sits 23% above its 52-week low of $917.39.
Summary
BlackRock and its AI infrastructure fund, backed by Microsoft and Nvidia, signed a pact with North America's Building Trades Unions (NABTU) to secure skilled labor for data center projects. The agreement gives BlackRock early access to NABTU's 3 million workers, aiming to avoid construction delays as the data center boom strains resources. This follows BlackRock's recent push into AI infrastructure, including the Aligned Data Centers acquisition in July. The partnership directly addresses a key bottleneck—labor shortages—that could slow the buildout of AI capacity, a strategic priority for the firm. With record AUM of $15.3 trillion and strong inflows, BlackRock is leveraging its scale to lock in competitive advantages in high-growth infrastructure.
At the time of this announcement, BLK was trading at $1,132.00 on NYSE in the Finance sector, with a market capitalization of approximately $184.6B. The 52-week trading range was $917.39 to $1,219.94. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.