AI Added 'Basically Zero' to US Economic Growth Last Year, Goldman Sachs Says
Hacker News
February 23, 2026
AI-Generated Deep Dive Summary
The U.S. economy's supposed AI-driven growth may not be as significant as widely believed. While major tech companies like Meta, Amazon, Google, and OpenAI have invested heavily in AI—spending is expected to reach $700 billion this year—their contributions to U.S. GDP growth have been minimal. According to Goldman Sachs, AI investment added "basically zero" to U.S. economic growth in 2025. Much of the hardware and chips used for these investments are imported, benefitting economies like Taiwan and South Korea rather than boosting U.S. GDP.
The narrative that AI is a major driver of U.S. economic growth gained traction due to reports suggesting it accounted for up to 92% of GDP growth in certain periods. However, Goldman Sachs analysts argue this is overreported. One key reason is the importation of AI-related equipment, which offsets domestic investment and limits the technology's direct impact on U.S. economic output.
Moreover, there's little evidence that AI has significantly improved productivity or employment. A survey of nearly 6,000 executives revealed that while 70% of companies actively use AI, only 20% reported noticeable impacts on productivity or hiring. This lack of tangible productivity gains raises questions about the value of these
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Originally published on Hacker News on 2/23/2026