Jamie Dimon said companies are mindful of their token and data center spending.
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Jamie Dimon is optimistic that the country's AI spending will pay off.The JPMorgan CEO told CNBC's Leslie Picker in a video interview that aired on Wednesday that he believes the billions pouring into AI infrastructure will ultimately prove worthwhile."In my own view, and I may be wrong, it'll ultimately play out and pay out," Dimon said. "These people are doing real calculations about what's needed. They see what it costs to do the frontier models. They see what it costs to do inferencing. The need is going up dramatically."He said that AI spending is also driving the American economy, "because the increase alone is 1% of GDP, and next year it's going to be another 1% of GDP increase.""You've got to get steel and cement and all these things to build the data centers," he added.When asked about whether a cooling AI market would be a threat to the nation's economy, Dimon said that while there are "a lot of things to worry about," this specific scenario is "not high on the list."JPMorgan has poured significant capital into tech and AI projects this year, with Dimon saying on a January earnings call that he didn't want the bank to fall behind other Wall Street rivals and fintech companies.
