AI spending is rapidly accelerating in the US. US private fixed investment in information processing equipment and software grew at an annualized rate of +7.3% in Q3 2026, to a record $1.77 trillion. This marks the largest quarterly increase since Q4 1983. By comparison, at the height of the 2000 Dot-Com Bubble, this metric grew +6.2%. Since Q4 2022, private fixed investment in information processing equipment and software has surged +61%, or +$671 billion. As a % of GDP, this metric is up to a record 5.4%, significantly surpassing the previous high of 4.5% recorded in Q4 2000. The scale of US AI investment is unlike anything seen before.

AI BOOM FUELS SHARPEST COMPUTER PRICE INFLATION IN TWO DECADES The massive AI infrastructure buildout is coinciding with a sharp rise in consumer technology prices, adding another source of pressure to U.S. inflation. According to September CPI data: 🔸 Computers, peripherals and smart-home assistants: +9.7% YoY, the largest annual increase since at least 2006. 🔸 Software and accessories: +28.4% YoY. The figures highlight growing concerns that surging demand for AI computing power and hardware could be pushing technology costs higher. The key risk: AI investment may be creating inflationary pressures beyond energy and housing, complicating the Federal Reserve's efforts to bring inflation back to its 2% target.

AI is steadily reshaping parts of the U.S. economy in ways that aren’t immediately obvious. Zooming in on those changes reveals how the AI investment boom is creating economic dynamism but also instability.

AI has a private-company side, and $MN offers exposure to OpenAI and Anthropic through total return swaps. Explore the ETF's strategy and take a closer look at its place in the AI investment story at

AI has the potential to reshape our economies. The ECB Blog explores the financing of AI investment in two posts. In this one we show that firms expect to rely overwhelmingly on their own resources to finance the transition