Morgan Stanley CEO: Projects annual AI spending to stay at US$1 trillion over the next five to 10 years.

Morgan Stanley CEO Ted Pick said Wednesday he expects AI buildout will face periods of bottlenecks and overbuilding, though investment will continue at a massive scale in the coming years. Pick also stated that banks’ role lies in adjusting the pace of AI capital expenditure—slowing it appropriately when the market advances too quickly, and ramping up investment when needed. “These investments are extremely large; the growth of the U.S. economy, and even the global economy, is to some extent bei

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