JPMorgan Vice Chairman warns AI valuations may face a "correction"
Jinse Finance reported that Daniel Pinto, Vice Chairman of JPMorgan, stated that the booming artificial intelligence industry valuations need to be reassessed, warning that any downward adjustment could trigger a chain reaction throughout the stock market. Pinto said at a summit held in Johannesburg on Tuesday: "It is very likely that a correction will occur, which may affect the entire sector, the S&P index, and the whole industry." According to estimates by McKinsey & Company, the world's five largest technology companies are expected to invest about $371 billions this year in data centers required for training and running complex models. By the end of this decade, cumulative investment in such infrastructure is expected to reach $5.2 trillions to meet demand.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Release dates set for new batch of US data, including CFTC weekly report and PPI

The Dow Jones Index closed down 498.5 points, with the S&P 500 and Nasdaq also declining.
All three major U.S. stock indexes closed lower.
