JPMorgan's Dimon said tech giants' AI spending may hit $1 trillion.
JPMorgan Chase CEO Jamie Dimon expects spending across the hyperscaler ecosystem to potentially reach $1 trillion next year, CNBC reported.
That is up from about $300 billion last year and around $700 billion this year.
"That's like 1% increase to GDP each year," Dimon told CNBC-TV18 at the 11th annual JPMorgan India Conference. He said the spending "may add a little bit to inflation" as companies hire workers, build factories and power plants, and buy equipment.
Asked about returns, Dimon said the investments would not always come down to a straightforward calculation: "sometimes it's just table stakes." He named customer experience as one benefit that is hard to quantify.
He also said it was too early to pick winners, pointing to the internet bubble. There "may be a market correction," though he was not sure AI would be the cause.
Which of your AI projects has a business case, and which ones are you funding as table stakes?
Sources
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