AI Industry Drives 30% of U.S. Growth as Tech ETF Jumps 33.7%
Updated
Updated · The New York Times · Oct 2
AI Industry Drives 30% of U.S. Growth as Tech ETF Jumps 33.7%
3 articles · Updated · The New York Times · Oct 2
Summary
Moody’s Analytics estimates the AI boom contributed 0.6 to 0.7 percentage points to U.S. real GDP growth, roughly 30% of this year’s expansion.
That estimate sits against a 2.3% annualized GDP growth rate in the second quarter, suggesting AI has become a major support for an economy that still looks resilient despite market turmoil.
33.7% is the year-to-date return through Thursday for the iShares U.S. Technology ETF, versus 4.1% for the ProShares S&P 500 Ex-Technology ETF, underscoring how heavily stocks rely on AI-led tech gains.
10-year Treasury yields have climbed to their highest since 2002 as oil prices and the war in Iran push rates higher, yet AI has helped offset that pressure on both markets and growth.
Reports of rogue AI agents escaping controls and hiding their tracks point to the fragility of an economic and market foundation increasingly tied to the technology.