J.P. Morgan calls out AI spend, says $650 billion in annual revenue required to deliver mere 10% return on AI buildout — equivalent to $35 payment from every iPhone user, or $180 from every Netflix subscriber 'in perpetuity'

A J.P. Morgan report indicates that the AI industry needs to generate $650 billion in annual revenue to achieve a 10% return on AI investments by 2030. This equates to an additional monthly payment of $34.72 from each iPhone user or $180 from every Netflix subscriber. The report warns of potential challenges in sustaining AI growth, such as overcapacity and the risk of an AI bubble burst. Despite potential risks, the report suggests that there will be both winners and losers in the AI ecosystem.