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Jamie Dimon is making the bull case for AI spending, telling investors the buildout is likely to pay off. The JPMorgan chief pointed to data center construction as a direct contributor to GDP growth, supporting jobs and demand for materials. JPMorgan itself has pushed its tech budget to nearly twenty billion dollars this year, with AI investments a central piece of that commitment.
Shifting to Silicon Valley, Intel's remarkable turnaround story is drawing fresh attention. Shares have quadrupled from their lows, fueled by renewed confidence in the company's manufacturing ambitions. But the Financial Times cautions that Intel has yet to prove it can seriously challenge Taiwan's TSMC in advanced fabrication — meaning the recovery remains a compelling thesis, not yet a confirmed victory.
And in a notable structural shift for the legal industry, some of America's most prestigious law firms are in early conversations with private equity about selling ownership stakes. Paul Weiss, Quinn Emanuel, and Proskauer are among those exploring deals. It's a sign that the traditionally partnership-only model is bending under pressure from capital demands and competition for talent.
That's the tape. Markets Desk, signing off the floor.
