Goldman Sachs analysts, including Joseph Briggs, assessed that artificial intelligence had a âbasically zeroâ impact on the US economy in 2025. They argued that large language models, chatbots, and related AI technologies did not meaningfully contribute to the 2.2 percent GDP growth recorded last year.
The assessment contrasts with optimistic projections about AIâs macroeconomic contribution and aligns with similar caution expressed by analysts at Morgan Stanley and JPMorgan Chase. The reporting notes that large technology companies including Amazon, Google, and Microsoft have announced major data-center expansion plans that will require substantial computing hardware purchases over the coming years.
Analysts estimate that roughly three-quarters of projected Big Tech capital expenditure could contribute directly to GDP growth in Taiwan and other Asian technology manufacturing hubs. The context also cites ongoing US effortsâacross successive administrationsâto reduce dependence on semiconductors and components manufactured in Asia, alongside competing political claims about whether AI investments are supporting US growth.