BREAKING
JPMorgan: Split AI Risk From Reward
AI is now an 'everywhere' trade
0
B
Capex 2025
0
B
Capex 2026
0
x
vs 2019
Productivity is accelerating
Past decade avg
1.8
Latest YoY
2.8
AI add (high)
2.7
Structural trend vs overheating
The Reward
Bull
●
Broad demand across sectors
●
General-purpose technology
●
Long-term productivity
The Risk
Caution
●
Capex runs ahead
●
Valuation correction risk
●
Monetization delays
Barbell strategy for 2026
AI NEWS BLITZ
JPMorgan says investors are getting better at telling AI's risks from its rewards.