Jamie Dimon says hyperscaler AI spending could hit $1 trillion next year

Jamie Dimon, Chairman and Chief Executive Officer of JPMorgan Chase & Co., attends the ribbon-cutting ceremony opening the firm’s new headquarters at 270 Park Avenue, in New York City, U.S., October 21, 2025. Eduardo Munoz | ReutersThe artificial intelligence spending boom is showing little sign of slowing, with investment across the hyperscaler ecosystem potentially reaching $1 trillion next year, according to JPMorgan Chase CEO Jamie Dimon. Spending across the hyperscaler ecosystem has more than doubled from about $300 billion last year to around $700 billion this year, a surge Dimon said is boosting economic growth while potentially adding to inflation. "That's like 1% increase to GDP each year," Dimon told CNBC-TV18 on the sidelines of the 11th annual JPMorgan India Conference, adding that the spending "may add a little bit to inflation" as companies hire workers, build factories and power plants, and buy equipment and materials.Over the longer term, however, Dimon said AI could have a deflationary effect, calling it an "unbelievable technology" whose rapid expansion "looks like it's going to continue." Still, he said it was too early to pick winners from the AI boom, point...