AI, Earnings Season, and the Market Outlook

J.P. Morgan Private Bank’s U.S. investment strategy head discusses expectations for the new earnings season and the role of AI-related spending in corporate growth. The conversation also covers risks and other sectors that may influence markets.

■ Earnings and AI
- Expected growth across technology and semiconductors, investor expectations, and hyperscaler capital spending
- Competition among AI models, regulatory headlines, and potential effects on leading companies
■ Other market themes
- Geopolitical and climate-related spending, bank earnings, and energy performance

No timestamps are provided in the transcript. The discussion focuses on market themes and expectations rather than detailed company-by-company results or investment instructions. Investors following earnings can use it to identify topics to monitor, including AI spending, capital expenditure updates, and sector results.