BlackRock's CEO says no AI bubble, proposes new asset class for compute futures amid shortages.

BlackRock CEO Larry Fink argues there is no AI bubble but rather shortages in energy, computing power, and chips needed to meet AI demand. He suggests creating a new asset class based on buying futures of compute to help stabilize prices and support tech companies against supply constraints. This concept is compared to commodity derivatives like those for oil and electricity. However, uncertainties remain due to hardware lifespan and mixed signals on AI adoption benefits.