JPMorgan CEO Jamie Dimon dismissed concerns about an AI spending bubble, arguing the roughly $1 trillion flowing into data centers will prove worthwhile over time. Speaking at a New York event alongside Anthropic chief Dario Amodei, Dimon said technology historically pays for itself, even if not in a straight line. "The technology itself is so powerful, it's worth $1tn of investment," he stated.

BlackRock CEO Larry Fink echoed that optimism at the Milken Institute conference, declaring there is "not an AI bubble" but rather the opposite — severe supply shortages with demand outpacing expectations. Fink warned that the AI boom would create a K-shaped economy, where one or two dominant winners emerge in each industry while smaller firms face pressure to merge or exit.

JPMorgan has gained early access to Anthropic's Mythos model, which efficiently exposes corporate cyber vulnerabilities. Amodei urged companies to patch these gaps within six to twelve months before Chinese large language models catch up. Dimon noted large US banks have formed triage teams to address critical exposures, with patch timelines compressed from weeks to minutes.