AI-related investments are contributing positively to the US economy, with an estimated 0.5 percentage point increase in GDP growth attributed to these expenditures. In the absence of AI spending, the economy's growth rate would have fallen below 1%. Despite this boost, underlying investment in other areas shows weakness. Major technology companies like Amazon and Google are ramping up their capital investments substantially, indicating plans to continue driving AI-related spending, which is predicted to support economic growth in 2025 and 2026.
Researchers at Pantheon Macroeconomics found that AI-related spending accounted for a 0.5 percentage point difference in annualized GDP growth for the first half of the year.
Hidden behind the surge in AI-related spending, however, investment elsewhere in the economy is far softer than headline numbers suggest.
Tech companies don't appear to be slowing down their spending anytime soon.
Big tech's plans to continue spending aggressively on AI over the next few years suggest a similar boost over the rest of 2025 and into 2026.
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