Jane Fraser, chief executive of Citigroup, has said the recent sell-off in artificial intelligence (AI) stocks was "a tad overdone".
She partly blamed hedge funds cashing in their profits.
Fraser told Bloomberg that demand for computing power and new data centres would continue for years, even if not every company in the sector did equally well.
She said enthusiasm for AI was stronger in China than in the US.
China's strengths in manufacturing, robotics and engineering complemented America's lead in software and the most advanced AI models, she added.
China expansion
Fraser described China as one of the biggest opportunities for the financial services industry.
In October, Citi won approval to set up a wholly owned securities business in mainland China after a five-year wait.
It was the seventh foreign firm to do so.
The licence covers investment banking, share dealing, research, advice and securities trading, allowing Citi to offer its full range of services to clients there.
Citi says it already works with about 70% of Fortune 500 companies operating in China.
It also serves Chinese companies expanding into Latin America, Central Asia, Europe and the US.
The bank plans to hire about 100 bankers over the next few years for the business, which is due to launch in about six months.
The move marks a change of direction after Citi pulled out of several consumer banking businesses in China as part of a wider restructuring.
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