Jamie Dimon, CEO of JPMorgan Chase, said AI investment across the hyperscaler ecosystem could reach $1 trillion next year. Spending has more than doubled from approximately $300 billion last year to around $700 billion this year. Dimon estimated this represents roughly a 1% increase to GDP each year, while acknowledging it could add some upward pressure to inflation in the near term. He described AI as an «unbelievable technology» with potential deflationary effects over the longer term. Dimon also warned against trying to pick winners too early in the AI boom, citing the internet bubble as a cautionary example.
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