JPMorgan CEO Jamie Dimon calls Nvidia an ‘unbelievable’ company, but warns some people will …

JPMorgan Chase CEO Jamie Dimon has now hailed Nvidia as an unbelievable company and has also cautioned investors that some artificial intelligence stocks may be trading at an unsustainable levels. Speaking with CNN’s Erin Burnett, Dimon said that the US remains the ‘most prosperous’ economy in the world. He adds that the US economy is supported by diverse and deep capital markets including venture capital, private credit and hedge funds. “There’s no question some people will lose money,” Dimon said, drawing parallels to the dot-com era. “But mankind should benefit,” he added, emphasising that the underlying technology is real and transformative—even if valuations are currently inflated.

AI is real and not a passing trend

Dimon emphasized that AI is a genuine productivity revolution, comparing its current stage to the early days of the Internet. “It’s almost at the beginning,” he said, noting that while not every company will succeed, AI will produce transformative winners just as the internet gave rise to Google, Facebook, and Amazon.Dimon acknowledged that valuations in the AI sector may be inflated, but stressed that the underlying technology will reshape industries and improve lives. “Mankind should benefit,” he said, even if “valuations today may be too high for some of these folks.”

Nvidia’s historic milestone

In October 2025, Nvidia became the first company in history to surpass a $5 trillion market valuation. Its market cap currently stands at $4.74 trillion, underscoring its dominance in the AI chip market. Dimon’s remarks came shortly after Nvidia CEO Jensen Huang predicted that China will win the AI race, a claim that drew sharp pushback from President Donald Trump, who vowed the U.S. would not allow other nations access to Nvidia’s most advanced chips.

JPMorgan Chase CEO Jamie Dimon doesn’t sugarcoat AI impact on jobs

In another interview with Bloomberg TV, Dimon talked about the impact of AI on the job market. “People shouldn’t put their head in the sand. It is going to affect jobs,” he said. “AI will enhance some aspects of work, but also eliminate some jobs.” However, Dimon also stressed on the fact that JPMorgan is focused on retaining and redeploying employees whose roles are impacted by automation. “We’ll have more jobs, but there’ll probably be less jobs in certain functions,” Dimon added. “You’re better off being way ahead of the curve,” Dimon added.Dimon also added that the bank has invested about $2 billion as an annual investment in AI and is already making $2 billion in direct benefits. This includes the headcount reductions and operational savings. “We know about $2 billion of actual cost saves,” he said. “It’s the tip of the iceberg.”