Jamie Dimon drops surprising take on AI stocks

Group 1 - AI has significantly transformed the business landscape, leading to a dramatic increase in stock market valuations, particularly for AI-driven megacaps like Nvidia, which saw its market cap rise from $1 trillion to over $4.3 trillion in just over two years [1] - Approximately 10 unprofitable AI start-ups have collectively added around $1 trillion in paper value over the past year, contributing to a multi-trillion dollar increase in global stock market capitalization [2] - By October 2025, nearly 50% of the S&P 500's market value, estimated at $57 trillion, will be linked to sectors exposed to AI, such as cloud computing, semiconductors, and software monetization [2] Group 2 - Jamie Dimon, CEO of JPMorgan Chase, has expressed a cautious view on the AI boom, stating it is "real but risky," and emphasizes the need for investors to be selective [4][5] - Dimon compares the AI revolution to a large-scale industrial build-out, suggesting that not all AI companies will have the necessary resources to complete their projects, which could lead to many data-center projects remaining unfinished [6] - Investors are advised to focus on companies with strong liquidity, clear visibility on power supply, disciplined spending, and tangible returns, rather than chasing every AI-related stock [7][8]