The Kobeissi Letter(@KobeissiLetter):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.

2026.11.01 20:52

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.