AI is driving US economic growth
AI is driving US economic growth:
Investment in software and IT equipment contributed +134 basis points to Q1 2026 GDP growth of 2.0%, the largest quarterly contribution in history.
This means that 67% of last quarter's economic growth was driven by AI.
To put this differently, without this AI-driven tech investment, Q1 GDP growth would have been close to flat.
This contribution also exceeds the 1999 record by ~10 basis points.
Over the last 5 quarters, investment in software and IT equipment contributed +90 basis points on average per quarter, the most for any 5-quarter period on record.
The US economy has become highly reliant on AI.
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