Overview

• New analysis credits a large share of 2025 U.S. GDP growth to AI capital spending, with estimates placing roughly two-thirds of the year’s expansion on AI investment.
• Nvidia plans a $100 billion outlay to help OpenAI build data centers, while the Stargate supercomputing project targets $500 billion by 2029 with $400 billion already secured.
• Rising interest costs are pressuring debt-financed infrastructure players, with Oracle estimated to borrow about $25 billion annually to fulfill OpenAI-related commitments.
• Analysts warn that a bubble is possible given rapid spending and circular funding concerns, though some argue the sector looks more mature than the late-1990s tech peak.
• The United States is accelerating next-generation data-center buildouts as China scales back after overbuilding left much new capacity idle and shifts focus toward inference.