Bloomberg Surveillance · Wednesday, July 15, 2026
New York's moratorium on new hyperscale data centers, spurred by concerns over increased supply costs and environmental impact, reflects broader anxieties surrounding AI's rapid expansion. While acknowledging the need for AI advancement, there's a push to balance technological progress with worker security and the economic well-being of citizens, suggesting a need for a 'grand bargain' between the public and private sectors.
“So while I don't think like no one is happier than the President of China that we are slowing down data center construction, that being said, it's not okay if people's electricity bills are going up, or people's water bills are going up, or people's economic security is going down because of you know, AI companies.”
“So I think this is a perfect example of what we're trying to do, which is to say Americans are worried. Right, They're worried about When the average American hears AI. What they hear is I'm going to lose my job, my electricity prices are going up, my kids won't have a job.”
“And until we convince the people of America that there's a good future for them in an AA economy, you're going to continue to See what you just asked me about, moratoriums on data centers, other kinds of uprising, and that's bad for America.”