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.
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