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 close

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.