Yes or no? How JP Morgan joined tech peers in having to pander to Wall Street's naked short-termism around AI investment

A simple enough declaration from one of the world’s most influential bankers yesterday, but the words of Jamie Dimon, CEO of JP Morgan Chase, raised some perplexed eyebrows among investors as he committed to increased spending on AI in the coming year.

Now, we’ve seen Wall Street short termism - ‘show us the AI money!’ - time and again when it comes to tech firms ramping up their AI spend to build out essential infrastructure and seen the pounding that such narrow thinking has resulted in for the likes of Meta.

So when in its latest quarterly earnings call, JP Morgan talked about increasing expenditure by around $9.7 billion year-on-year, the investor community was seemingly on red alert, demanding to know of Dimon what he planned to allocate to AI and why.

For his part, Dimon took the questioning on the chin, although a definitive answer to the yes ...