Odaily Planet Daily reports: JPMorgan Chase CEO Jamie Dimon said the market may be underestimating the impact of AI infrastructure investment on the U.S. economy. He believes the current AI construction cycle is not merely an expansion in the technology sector, but a broader investment cycle spreading to manufacturing, energy, engineering, and the labor market.
Dimon expects AI-related investments this year to boost U.S. GDP growth by approximately 1 percentage point, with a similar contribution likely to continue next year. Currently, annualized U.S. private data center construction spending reached $68.3 billion in June, up 45.8% year-over-year.
Meanwhile, tech giants such as Amazon, Alphabet, Microsoft, and Meta are expected to collectively spend $735 billion to $760 billion on capital expenditures by 2026. Dimon said AI investments will ultimately generate long-term returns in chips, servers, networking equipment, and energy as demand for inference grows. (The Street)