Nov 20, 2025 - Axios Events
Axios BFD New York: Dealmakers consider AI's economic impact
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George Moriarty speaking to the roundtable group. Photo: Sam Popp on behalf of Axios
NEW YORK – Investment experts dug into the implications of AI on the economy, investment landscape and job market at an Axios Live event this week.
- Axios' George Moriarty and Madison Mills moderated the Nov. 18 roundtable discussion, sponsored by the Center for Audit Quality.
Why it matters: The big question in the investing world today is whether an AI bubble is on the horizon.
5 big things: Here's what the attendees had to say …
- Investors are watching overcapacity, leverage and valuations to "evaluate when and if we may be hitting bubble territory," said Stephen Parker, J.P. Morgan Private Bank co-head of global investment strategy. "We continue to have great comfort that we are not approaching bubble territory."
- "I would agree that we're not in a bubble, not at all," Siebert chief investment officer Mark Malek said. But every company is different, he said. "You start to see a little bubbly behavior on the edges when you start to filter out what types of companies we're talking about."
- Remaining transparent and evaluating assumptions about the existence of an AI bubble are important parts of Bain & Co.'s approach, partner Andrew Schwedel said. "Specifically on AI, I wouldn't … presume to try to call whether it's a bubble or not. … I do think it's very transformational, and it is going to be a big deal, but it takes time for that to ripple through."
- "I'm not sure that the concern around over-leverage is necessarily there when attached to data centers," I Squared fund partner David Rosenblum said. "I think what's interesting about this versus other historical bubbles is that while we've seen trillion dollars of commitment, that cannot be spent at once."
- Companies are being built in a totally different dynamic today in the AI era, Sapphire Ventures vice president Jason Brooke said. "Everyone talks about this concept of AI-native companies, but what we see is sales organizations that are incredibly data-driven."
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The Center for Audit Quality CEO Julie Bell Lindsay highlighted the important role that trust plays in the investment landscape.
- "I think we can all agree that as investors you need trust in the capital markets, and the audit profession is providing trust on a daily basis," she said.
