{"id":23673,"date":"2026-02-27T09:55:02","date_gmt":"2026-02-27T08:55:02","guid":{"rendered":"https:\/\/latribune.lazardfreresgestion.fr\/?p=23673"},"modified":"2026-04-22T10:08:26","modified_gmt":"2026-04-22T09:08:26","slug":"united-states-investment-now-dominated-by-ai%e2%80%91related-sectors","status":"publish","type":"post","link":"https:\/\/latribune.lazardfreresgestion.fr\/en\/united-states-investment-now-dominated-by-ai%e2%80%91related-sectors\/","title":{"rendered":"United States: Investment Now Dominated by AI\u2011Related Sectors"},"content":{"rendered":"

Chart of the Week<\/h2>\n

A few weeks later than expected, the Bureau of Economic Analysis released its estimate of U.S. GDP growth for the fourth quarter of 2025. The figure came in below expectations, mainly because the government shutdown had a larger\u2011than\u2011anticipated impact on the direct contribution of public spending. Otherwise, the release confirmed several ongoing trends, including the very strong concentration of investment in areas tied to artificial intelligence, while residential investment is down 3.7% year\u2011over\u2011year.<\/p>\n

The chart below shows that the positive contribution from nonresidential investment comes entirely from the three AI\u2011related components (data centers, IT equipment, and software). All other categories of investment have been on a downward trend for nearly two years.<\/p>\n

\"\"<\/p>\n

OUR <\/b>ANALYSIS<\/b><\/h3>\n

These trends are set to continue in early 2026. In their latest quarterly results, hyperscalers once again increased their investment plans for the year. Beyond that, business\u2011investment surveys are better than their 2025 average, though still at fairly low levels.<\/p>\n

These figures show how solid headline numbers can mask very uneven underlying dynamics. It is also worth keeping in mind that the strong contribution from AI\u2011related investment has come alongside a sharp increase in imported equipment, which dampens the overall impact on economic growth.<\/p>\n

***<\/p>\n

Written on February 27 2026. Opinions subject to change.<\/p>\n

See also: Gold & Silver: Bubble Warning Signs Are Flashing<\/a><\/p>\n

This document is not pre-contractual or contractual in nature. It is provided for information purposes. The analyses and descriptions contained in this document shall not be interpreted as being advice or recommendations on the part of Lazard Fr\u00e8res Gestion SAS. This document does not constitute an offer or invitation to purchase or sell, nor an encouragement to invest. This document is the intellectual property of Lazard Fr\u00e8res Gestion SAS. LAZARD FRERES GESTION \u2013 a simplified joint stock company with share capital of \u20ac14,487,500 \u2013 Paris Trade and Companies Registry No. 352 213 599. 25, RUE DE COURCELLES \u2013 75008 PARIS, FRANCE<\/p>\n","protected":false},"excerpt":{"rendered":"

A few weeks later than expected, the Bureau of Economic Analysis released its estimate of U.S. GDP growth for the fourth quarter of 2025. <\/p>\n","protected":false},"author":101016,"featured_media":23675,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[148],"tags":[2723,1940,1977],"class_list":["post-23673","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-chart-of-the-week","tag-equity","tag-inflation-en","tag-japan"],"yoast_head":"\nUnited States: Investment Now Dominated by AI\u2011Related Sectors<\/title>\n<meta name=\"description\" content=\"A few weeks later than expected, the Bureau of Economic Analysis released its estimate of U.S. GDP growth for the fourth quarter of 2025.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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