Major Wall Street leaders argued that the war between the United States, Israel and Iran should be viewed as an opportunity, even as international oil prices surge. Their optimism stems from expectations that massive demand will emerge across the Middle East and worldwide for drone defense systems, as the nature of warfare has fundamentally changed. The executives also praised President Donald Trump for significantly rolling back Iran's nuclear threat, saying this allows them to focus on investment activities with greater confidence.
Speaking at the Milken Global Conference 2026 held in Beverly Hills, Los Angeles, on Wednesday, Larry Fink, founder and CEO of BlackRock, the world's largest asset manager, said, "The massive investment in artificial intelligence (AI) over the next decade is not just for the United States." He added, "There will be enormous opportunities in the Middle East as well." Citing drones, which have been used as a key weapon in the recent war with Iran, Fink explained, "We will need to rebuild the Gulf Cooperation Council (GCC) region as a place immune to drone attacks." He added, "More facilities may need to go underground than in the United States." Fink also said, "Terrorism can occur in the United States with a $3,000 drone, so everything must be reexamined." He added, "Trillions of dollars of capital will be needed, and these represent opportunities for us."
Fink predicted that the US administration alone would struggle to fully build drone defense systems, whether in the Middle East or in the United States. He argued that massive Wall Street capital like BlackRock's would be essential. "Given the large national debt and accumulating fiscal deficit, the government does not have the capacity to handle this alone," Fink said. "We will build 1-gigawatt data centers."
Ken Griffin, CEO of US hedge fund Citadel, strongly praised the Trump administration's rationale for the war. He judged that the United States could grow more safely as anti-American regimes have been successively diminished and nuclear threats reduced. While describing the thousands of casualties from the war in the Middle East as "a humanitarian crisis," Griffin said, "I applaud the president's determination to work toward ensuring a 'nuclear-free Middle East.'" The comments came in response to a question about how he viewed the market's apparent optimism despite heightened geopolitical risks and rising oil prices. "I support President Trump for setting back Iran's nuclear ambitions, which could threaten public safety, by years if not decades during his term," Griffin said. "When I was young during the Cold War, we practiced hiding under school desks in preparation for nuclear attacks, but President Trump does not seem to be strongly publicizing his achievements to the public."
Griffin was also optimistic about the recent rise in oil prices that is burdening the global economy, saying it could serve as an opportunity for the United States to creatively improve energy efficiency. "There is a perception in the stock market that the worst-case scenario has been avoided because the Iranian military, while not defeated, has been successfully contained," Griffin noted. "Energy prices have risen amid the negotiation stalemate, but the United States has not been significantly shocked overall." He continued, "Vehicle fuel efficiency is much better than in the past, and per-capita vehicle dependence is lower, so our ability to withstand an oil shock is better than at any time in history." He added confidently, "Thanks to its creativity, the United States has achieved energy independence in the Western world."
However, Griffin acknowledged that the Iran war has entered a more difficult phase than the operation to capture Venezuelan President Nicolas Maduro in January of this year. "The Venezuelan military operation, which eliminated a regime hostile to US interests overnight, was one of the greatest political and diplomatic achievements of the past decade," he said. "Venezuela, which has the potential to become the world's largest oil producer, is now firmly within our sphere of influence." He added with regret, "The unexpected situation is that Iran's military capability and its determination to preserve the regime are stronger than Venezuela's. The remarkable success in Venezuela led us all to believe we could achieve the same result in Iran."
Griffin further warned that if the current deadlock in ceasefire negotiations persists for six to 12 months, the US economy could also be hit by the fallout from a slowdown in developing countries. "The United States can withstand rising oil prices, but many developing countries around the world, such as Pakistan and Bangladesh, cannot," he said. "This will effectively reduce global gross domestic product (GDP), which will make the United States feel the pain as well."
