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At the Bloomberg Africa Business Summit, which took place in Johannesburg on November 18, Daniel Pinto, Vice Chairman of JPMorgan Chase, expressed the view that the current high valuations in the thriving artificial intelligence (AI) sector warrant a reevaluation. He cautioned that any downward adjustment in these valuations might set off a domino effect in the stock market. Pinto emphasized that such a correction could ripple through the entire AI sector, impacting the S&P index and the broader industry landscape. McKinsey's projections indicate that the world's five leading tech companies are set to invest around $371 billion in data centers this year alone, with cumulative investments in this infrastructure expected to soar to $5.2 trillion by the decade's end.
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