Stock market today: S&P 500 drops for fifth day as focus shifts to Powell’s speech
This chart is insane.
The amount of $ spent in data centers is now almost bigger than what the US spends in office construction.
Just to give you a reference: in 2022, $ spent on office construction was 7x the amount spent in data centers. And now data centers are about to take over office construction.
This is also visibile in another stunning statistics.
The contribution to GDP growth in H1 coming from investments in AI infrastructure has almost matched consumer spending.
Again, for perspective: consumer spending is the backbone of American GDP growth, generally representing around 70% of it.
Do you think the huge capex spending on AI will pay dividends, and that US growth will be sustained more by AI spending going forward?
Or are we overspending on AI, and we will face a reckoning once the capex doesn’t pay off and we realize the underlying growth engines are sputtering?
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