TD Bank’s investment bank bank believes that JPMorgan’s market capitalization will rise to $ 1 trillion because it uses artificial intelligence (AI).
In a new CNBC interview, TD Cowen Bank analyst says Steven Alexopoulos that investors are currently positioning in technical shares to conquer AI’s upward potential.
The analyst notes that investors are probably underexposed for shares he thinks they will gather as soon as AI is generally assumed for commercial use.
“If you think about where we are with AI, we are at construction level. The focus is on Nvidia, the focus is on OpenAI, the builders. I believe that we are within two years, perhaps one, where the focus will be extended to whose technology will use massive economic value.
That is exactly what we saw on the internet. While the internet was built, the focus was on Cisco, IBM and while the layer was built, it moved to Google with search and selling Amazon. If you think of the S&P 493 … you have to concentrate on sectors that depend on people, knowledge workers, that is what is disturbed by artificial intelligence. ”
According to the TD Cowen analyst, banks are ready to be large beneficiaries of AI preliminary output, with JPMorgan being expected to lead.
Alexopoulos says that although JPMorgan’s head of Consumer Banking, Marianne Lake, expects that the workforce of the division will decrease by around 10% over the next five years, he believes that projection is conservative and, instead, anticipates a reduction of 20%. According to Alexopoulos, the growth of JPMorgan will continue despite the significant decrease in the number of employees.
‘[JPMorgan] is only richly appreciated with regard to history, and that history did not include the most transformational technology of our lives. Banks will break into a new rating paradigm …
By the end of next year, [JPMorgan] Become a trillion dollar market cap company. “
From the end of Monday, the market capitalization of JPMorgan is $ 811 billion.
https://www.youtube.com/watch?v=LZJ9PBTBTG
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