Earlier this year, one of the largest asset managers in the world did something a financial institution should never have to do. It started training electricians. BlackRock committed $100 million to move 50,000 Americans into the skilled trades.
Its chief executive, Larry Fink, was blunt about why. The country needs an estimated $10 trillion in infrastructure investment by 2033, he said, and capital is no longer what’s in short supply.
The U.S. is racing to build data centers, a more resilient power grid, semiconductor plants, the physical scaffolding of the age of Artificial...