Big banks see risks in financing the AI boom, but are happy to keep writing the checks

Big banks see risks in financing the AI boom, but are happy to keep writing the checks Big banks see risks in financing the AI boom, but are happy to keep writing the checks JPMorgan CEO Jamie Dimon sees reason not to chase all AI financing deals, while Wells Fargo CEO Charlie Scharf implies the AI buildout resembles the dot-com boom From left: Wells Fargo CEO Charlie Scharf, Bank of America CEO Brian Moynihan, JPMorgan Chase CEO Jamie Dimon and Citigroup CEO Jane Fraser all chimed in on the risks of related to the massive AI buildout, but how there's still no sign that investments need to slow down. It’s one thing to know the risks of how fast the bandwagon is moving. It’s another thing entirely to try to slow it down.

One key takeaway from what the biggest U.S. banks said when they reported third-quarter earnings this week is that they need artificial intelligence, not only to improve how efficiently they run their businesses, but also as a gravy train, given that they provide the financing for the massive AI buildout. Copyright ©2026 MarketWatch, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8 From a record high to a 10% drop in just two months: Why small-cap stocks have unraveled so fast CoreWeave’s AI bonds tumble, raising red flags for the wider market Meet the baby chasers — they’re transforming the housing market and solving the childcare crisis Why Dell’s stock was one of the S&P 500’s biggest laggards on Wednesday Tomi Kilgore is MarketWatch's managing editor, markets, and is based in New York.

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