Morgan Stanley Executive Predicts Continued Growth in AI Investment Despite Calls for Slower Model Releases
Dan Simkowitz, co-president of Morgan Stanley, stated that efforts by companies like OpenAI and Anthropic to slow the release of advanced artificial intelligence (AI) models will not reduce demand or spending on AI. His comments come as his firm is reportedly a lead underwriter for Anthropic's upcoming IPO. Despite calls from some in the industry to pause progress due to safety concerns, Simkowitz emphasized that both corporate and consumer interest remains strong. Morgan Stanley has been expanding its use of AI across various sectors including research, cybersecurity, and customer service. The bank partners with major players such as Anthropic, Google (GOOG), Microsoft (MSFT), and xAI. Simkowitz also noted the readiness of the IPO market for large deals but expressed concerns about broader economic factors like fiscal policy and rising federal debt. Critics have questioned whether recent calls to slow AI development are motivated by safety or strategic timing around upcoming public listings, including those of Anthropic and OpenAI. Simkowitz acknowledged that each company will decide its own timeline.
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Topics: AI Anthropic IPOs Morgan Stanley OpenAI