JPMorgan and BlackRock CEOs Dismiss 'AI Bubble' Claims

Dimon: "$1 Trillion Investment Is Fully Justified"

Fink: "There Is No AI Bubble"

On May 5 (local time), the CEOs of major U.S. investment banks on Wall Street each dismissed the notion of an "artificial intelligence (AI) bubble." According to Bloomberg and U.S. online media outlet Axios, Jamie Dimon, CEO of JPMorgan Chase, highly praised the potential of AI technology at an event hosted by Anthropic in New York that day, stating that a $1 trillion investment in data centers "would be generally reasonable."

He explained that the $1 trillion in spending would also include investments in chips, wiring, and hardware, noting, "Technology tends to recoup its investment value eventually, but the process is not always linear." He added, "There will be losers and winners, and some people will say, 'I told you so,' but the technology itself is so powerful that a $1 trillion investment is fully justified."

Jamie Dimon, CEO of JPMorgan Chase. Photo by Reuters and Yonhap News.

On the same day, Larry Fink, CEO of BlackRock, also expressed an optimistic outlook on AI technology, saying, "There is no AI bubble." Speaking at the Milken Institute's annual conference in Los Angeles, California, he said, "We are experiencing supply shortages, and demand is growing at an unexpectedly rapid pace. We have not even begun to explore the opportunities that AI will bring globally." He added, "There are huge geopolitical issues surrounding who will own that technology."

Fink also said, "Currently, we do not have enough computing power," noting that global demand for computing power is so high that one day there could be futures market trading based on it. However, he pointed out that a "K-shaped economy" is likely to emerge, with corporate performance becoming increasingly polarized due to the AI boom across all industries.

Larry Fink, CEO of BlackRock. Photo by Reuters Yonhap News.

This content was produced with the assistance of AI translation services.