[JPMorgan Chase CEO: AI spending by hyperscale cloud service providers may reach $1 trillion next year] On September 22, JPMorgan Chase CEO Jamie Dimon said that the spending boom in the field of artificial intelligence shows little sign of slowing down, and the total investment in the hyperscale cloud service provider (hyperscaler) ecosystem may reach $1 trillion next year. Spending within the ecosystem has more than doubled from about $300 billion last year to about $700 billion this year. Dimon noted that such a surge, while boosting economic growth, could also exacerbate inflationary pressures. “This is equivalent to boosting GDP growth by 1% per year,” and as companies hire workers, build factories and power plants, and purchase equipment and materials, the spending “will likely push up inflation to some extent.” Still, Dimon said AI could have a deflationary effect in the long term; he called it an "incredible technology" and noted that its rapid expansion "appears to be here to stay."