JPMorgan Chase Vice Chairman warns AI valuations may be undergoing a "correction".
JPMorgan Chase Vice Chairman Daniel Pinto stated that the booming artificial intelligence industry's valuation needs to be reassessed and warned that any downward adjustment could trigger a chain reaction across the entire stock market. Pinto said at a summit held in Johannesburg on Tuesday: "A correction is very likely to occur, possibly affecting the entire sector, the S&P index, and the whole industry." According to McKinsey & Company estimates, this year the world's top five technology companies are expected to invest about $371 billion in data centers required for training and running complex models. By the end of this decade, to meet demand, cumulative investment in such infrastructure is expected to reach $5.2 trillion.
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