According to Bridgewater Associates estimates, companies such as Alphabet, Amazon, Meta, and Microsoft will significantly increase AI-related spending in 2026 (up to 650 billion USD) compared with the previous year, when investments totaled about $410 billion. The analysis highlights that growing demand for computing power and data infrastructure is driving this surge, aimed at building data centers and expanding AI models and services.
Bridgewater notes that this scale of investment also brings higher risks for technology markets, including pressure to deliver returns and potential consequences if spending does not result in the expected innovation or revenue growth. The report adds that such capital outlays could also have inflationary effects, particularly in technology and energy-related sectors.
Meanwhile, Goldman Sachs analysts contend that earlier AI investments have had virtually no impact on US economic growth. As reported by Gizmodo, a bank economist described the contribution of recent tech spending to US GDP as “basically zero,” noting that much of the expenditure goes toward imported components and hardware, which do not directly add to domestic output.
Observers point out that while companies are aggressively investing in AI and expanding infrastructure – including constructing data centers and purchasing advanced chips – the direct macroeconomic impact of these expenditures remains difficult to quantify. Some analysts argue that the spending reflects a technological arms race and competition for market dominance more than a short-term stimulus for economic growth.
At the same time, AI investments may influence the economy indirectly – through shifts in employment structures, rising demand for data specialists and engineers, and the development of new digital services – effects that may only become visible over a longer time horizon.