AI Capex Is Already Bigger Than the Dot-Com Boom
The AI investment boom is now large enough to show up across the economy.
Business investment tied to information processing equipment, software, data centers, manufacturing, and power facilities now amounts to nearly six percent of GDP , according to a recent analysis from Renaissance Macro’s Neil Dutta. That is already beyond the dot-com-era share. Dutta points out that the boom has spread well beyond the companies usually identified with artificial intelligence. Caterpillar, Vertiv, Eaton, Cummins, GE Vernova, and other industrial firms now move closely with semiconductor stocks because, as…
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