AI Spending Projections Showcase Growth Potential

As the above chart illustrates, AI spending in the U.S. is expected to continue to become an increasingly large portion of the U.S. GDP. While AI spending currently accounts for about 1.2% of U.S. GDP, it is projected to rise to about 5.6% by 2030. According to Alger estimates, this spending would represent about $6 trillion in spending by the end of 2030. It's important to remember that this spending isn't just solely limited to funding AI innovation and chipmaking. As Alger notes, AI expansion requires su ...