BlackRock Partners With Labor Unions for AI Infrastructure

BlackRock Inc. signed a memorandum of understanding with North America’s Building Trades Unions to secure skilled construction workers for new data centers and energy projects. The agreement involves BlackRock and its $30 billion AI Infrastructure Partnership, a joint venture that includes Microsoft Corp. and other technology firms.

The partnership focuses on sharing details of upcoming projects to ensure portfolio companies have the necessary workforce. To maintain fair wages and working conditions, the initiative emphasizes the use of project labor agreements and responsible contractor programs. This effort aims to counter concerns regarding AI-driven job displacement by highlighting the creation of physical infrastructure jobs.

BlackRock has previously launched a $100 million initiative to train 50,000 Americans for skilled trade roles. The firm also recently partnered with Meta Platforms Inc. for a $14 billion data center project in Texas.