Jamie Dimon believes the $1tn investment in data centres “will make sense” in the long haul because of the power of AI technology, underscoring Wall Street’s appetite to fund an unprecedented level of spending on tech infrastructure.
JPMorgan Chase’s chief executive said the spending would also include vast sums for things such as chips, wires and hardware but that “technology tends to pay for itself, just not in a straight line”.
“The way I look at it is that in total it will make sense. If you want to try to pick the winners and losers, you will have a hard time,” Dimon said on Tuesday at an event in New York alongside Anthropic’s CEO Dario Amodei.
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