Goldman Sachs says AI's impact on the US economy was "basically zero" last year
Goldman Sachs analysts say AI's measurable impact on the US economy last year was "basically zero" — arguing that LLMs, chatbots, and related tech didn't meaningfully contribute to the country's 2.2% GDP growth in 2025. Making matters worse for the bull case, analysts estimate roughly three-quarters of Big Tech's massive AI capital spending is actually boosting GDP in Taiwan and other Asian manufacturing hubs, not the US. It's a sobering counterpoint to the trillion-dollar AI investment narrative, though some economists argue the real impact is just hard to measure yet and may be revised upward over time.