Jamie Dimon says businesses are already getting smarter about AI spending

Jamie Dimon said companies are mindful of their token and data center spending. SAUL LOEB / AFP via Getty Images Jamie Dimon said that businesses are being rational about AI spend. Dimon said his bank considers the value AI adds and negotiates with vendors "all the time." Business leaders, like Alex Karp, have criticized excessive AI spend, likening it to addiction. AI is getting expensive, and companies need to be rational about it, says Jamie Dimon. On a CNBC appearance on Wednesday, the JPMorgan CEO said that companies need to be mindful of token spend and its return on investment. "They all see the costs going up rapidly," Dimon said. "So, of course, we're all going to be rational about it like any other resource we use." Dimon, who has been leading JPMorgan since 2006, said that the bank considers the value AI adds and negotiates with vendors "all the time." Dimon added that companies are already being smart about spend across the AI supply chain. "I've already seen tons of systems. People are going to send queries to the cheapest token, the cheapest thing," he said. "That's already happening, and that's going to happen with power. It's going to happen with data centers." The bank isn't giving up its data either, he said, addressing a concern executives are increasingly bringing up. "We are very protective of our data and our IP," Dimon said. "You should assume that JPMorgan will do everything they can to protect its own data, its own IP, to protect our customers." Modelmaxxing all the way Dimon is the latest business leader calling for modelmaxxing — the idea that companies should be more conservative about their AI spend and avoid defaulting to the most expensive, powerful frontier model for every task. As AI expenses soar, businesses are turning away from tokenmaxxing — using tons of AI tools like Claude, Codex, and Cursor to boost productivity in a wasteful way. Palantir CEO Alex Karp is among the strongest critics of tokenmaxxing. In a CNBC interview earli