It's become a common narrative around the U.S. economy and AI firms: AI investment is propping up America. While there is an argument to be made that the stock market is, with the "Magnificent 7" tech firms making up a sizeable portion of the U.S. stock market's gains over the past year, that idea doesn't hold water with general economic growth. Indeed, Goldman Sach's latest insight into the AI industry's hundreds of billions of investment is that the effect on the U.S. economic growth so far is "basically zero," as WSJ reports.

"We don't actually view AI investment as strongly growth positive," said Goldman Sachs chief economist, Jan Hatzius, during a recent interview. "We think there's been a lot of misreporting of the impact that AI investment had on GDP growth in 2025, and it's much smaller than it's often perceived."