Josh 4
Recent uptick of AI buildout’s contribution to growth about 0.65% of GDP: S&P Measure of “AI” related capital expenditure spending
| Quarter | Total contribution |
|---|---|
| 2007Q1 | 0.65% |
| 2007Q2 | 0.70% |
| 2007Q3 | 0.66% |
| 2007Q4 | 0.83% |
| 2008Q1 | 0.68% |
| 2008Q2 | 0.57% |
| 2008Q3 | 0.33% |
| 2008Q4 | -0.07% |
| 2009Q1 | -0.28% |
| 2009Q2 | -0.21% |
| 2009Q3 | 0.03% |
| 2009Q4 | 0.32% |
| 2010Q1 | 0.37% |
| 2010Q2 | 0.34% |
| 2010Q3 | 0.31% |
| 2010Q4 | 0.29% |
| 2011Q1 | 0.25% |
| 2011Q2 | 0.35% |
| 2011Q3 | 0.38% |
| 2011Q4 | 0.32% |
| 2012Q1 | 0.70% |
| 2012Q2 | 0.62% |
| 2012Q3 | 0.40% |
| 2012Q4 | 0.41% |
| 2013Q1 | 0.32% |
| 2013Q2 | 0.23% |
| 2013Q3 | 0.46% |
| 2013Q4 | 0.48% |
| 2014Q1 | 0.58% |
| 2014Q2 | 0.65% |
| 2014Q3 | 0.45% |
| 2014Q4 | 0.39% |
| 2015Q1 | 0.32% |
| 2015Q2 | 0.30% |
| 2015Q3 | 0.38% |
| 2015Q4 | 0.43% |
| 2016Q1 | 0.52% |
| 2016Q2 | 0.53% |
| 2016Q3 | 0.56% |
| 2016Q4 | 0.54% |
| 2017Q1 | 0.46% |
| 2017Q2 | 0.38% |
| 2017Q3 | 0.35% |
| 2017Q4 | 0.41% |
| 2018Q1 | 0.58% |
| 2018Q2 | 0.63% |
| 2018Q3 | 0.61% |
| 2018Q4 | 0.56% |
| 2019Q1 | 0.40% |
| 2019Q2 | 0.52% |
| 2019Q3 | 0.58% |
| 2019Q4 | 0.60% |
| 2020Q1 | 0.45% |
| 2020Q2 | 0.11% |
| 2020Q3 | 0.21% |
| 2020Q4 | 0.27% |
| 2021Q1 | 0.58% |
| 2021Q2 | 0.91% |
| 2021Q3 | 0.73% |
| 2021Q4 | 0.78% |
| 2022Q1 | 0.78% |
| 2022Q2 | 0.73% |
| 2022Q3 | 0.73% |
| 2022Q4 | 0.54% |
| 2023Q1 | 0.42% |
| 2023Q2 | 0.35% |
| 2023Q3 | 0.33% |
| 2023Q4 | 0.44% |
| 2024Q1 | 0.38% |
| 2024Q2 | 0.39% |
| 2024Q3 | 0.42% |
| 2024Q4 | 0.27% |
| 2025Q1 | 0.56% |
| 2025Q2 | 0.77% |
| 2025Q3 | 0.78% |
| 2025Q4 | 1.07% |
| 2026Q1 | 1.12% |
Notes: “AI” related Capex spending includes Computer Equipment, Software, Research and Development, Data Centers and Power Structures, measured as contributions to GDP Growth.
Source: All data from BEA NIPA. Estimates are contributions to growth over past 4 quarters.
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