Is AI really that big of a deal when it comes to the US economy? Judging from the latest GDP figures, the answer is a resounding "Yes!"
The MoneyShow Chart of the Day shows that high tech spending accounted for 55% of nominal nonresidential capital spending in the first quarter - the highest on record.
The economy grew at an annual rate of 2% in Q1. But business investment surged at its fastest rate in three years because of investing on AI-related equipment and software.
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By Mike Larson
Is AI really that big of a deal when it comes to the US economy? Judging from the latest GDP figures, the answer is a resounding “Yes!”
