New estimates from Soto, Thieu and Allen:
GDP growth in Q1 was 1.6% q/q AR, while netting out imports, the contribution from AI related investment was estimated at 0.63 ppts. The other components of GDP accounted for 0.97 ppts. Hence, considering imports, spending on AI capex accounts for considerable growth. Obviously, this is a mechanical decomposition, not accounting for efficiency effects in other sectors, nor wealth affects emanating from equity prices, etc.
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