Morgan Stanley CEO Ted Pick said on Wednesday he expects the AI build-out to
encounter bottlenecks and episodes of overbuild but that investment will remain
large-scale. He forecast annual AI spending of roughly $1 trillion over the next
5–10 years and said banks should help modulate AI capex — slowing the pace when
markets move too fast and accelerating when required — noting the AI capex cycle
is partly driving US and global growth. JP Morgan CFO Jeremy Barnum said on
Tuesday the bank is closely monitoring its AI risk exposure as demand for AI
infrastructure capex increases.
