The U.S. economy is now running on AI 
AI has become one of the main engines of recent U.S. growth.
- Oxford Economics estimates AI investment alone accounts for nearly 25% of recent GDP growth.
- Business spending on AI-related categories is running at roughly $1.5T annualized, up from $1T two years ago.
- Data center construction spending hit $68.3B annualized in June, up $21.5B YoY.
- At the same time, all other private construction fell by $101.6B.
- The AI stock rally has added trillions to household net worth, with U.S. household net worth reaching $174T in Q1.
Put together, AI-related factors may be responsible for roughly one-third of recent U.S. economic growth.
