Wells Fargo sees AI slowdown as unlikely despite safety calls

Wells Fargo believes a coordinated slowdown in AI development is improbable despite calls for safety pauses from industry leaders like Anthropic and OpenAI. The bank suggests that any slowdown is more likely to stem from supply-side bottlenecks such as power availability and permit delays, rather than a consensual halt in demand within the highly competitive AI market. Wells Fargo also noted that an elongated AI buildout due to these constraints could ultimately support long-term multiples for c