Analysis: AI Investment Drives Structural Divergence in U.S. Economic Data

CoinFeed June 29 news, according to SemiAnalysis analysis, the latest four U.S. economic data are significantly disturbed by one-time factors: Q1 GDP was revised up from 1.6% to 2.1% mainly due to a downward revision in imports, while real domestic demand growth was revised down to 1.7%. May personal income increased by 0.7% month-over-month, of which about $59.6 billion was one-time agricultural disaster subsidies; PCE inflation at 4.1% was almost entirely driven by energy, and oil prices in June have fallen about 40% from the April peak. Tariffs pushed goods inflation to about 4.8%, constituting a one-time price level shock rather than persistent inflation. Amid the noise, AI-related capital expenditure has become the main substantive driver, with equipment, software, and IP contributing about 1.55 percentage points to GDP growth in Q1, approximately four times the contribution of household consumption.