AI TRENDS | Fed Minutes Say AI Continued to Lift Real Investment in Data Centers, High-Tech Equipment, and Software

Federal Reserve minutes from the June meeting said existing indicators showed real GDP growth in the second quarter remained at a solid pace. According to Jin10, the minutes said real private domestic final purchases, which include personal consumption expenditures and private fixed investment and are often viewed as better reflecting underlying economic fundamentals than real GDP, rebounded in the second quarter, with growth even exceeding GDP. The minutes said real consumption spending was strong, and that expansion in the artificial intelligence sector continued to boost real investment spending on data centers, high-tech equipment, and software. The minutes also said April data showed imports and exports of high-tech products continued to post strong growth, while energy exports rose significantly.