CIOs are telling companies that AI capex spending has gone too far

ANDREW CABALLERO-REYNOLDS/AFP via Getty Images

• A new Bank of America survey showed exhaustion around AI capex spending.
• A record number of CIOs think that companies are overinvesting.
• They see a bubble in AI as the market's biggest tail risk for the coming year.

Silicon Valley hyperscalers made it clear during the year's first earnings week they don't plan to dial back AI capex spending. Based on new survey results, Wall Street doesn't approve.

Bank...