AI Investments Drove 75% of U.S. GDP Growth in Q1, White House Advisor Says

According to David Sacks, White House AI and crypto advisor, commenting on Morgan Stanley data released in early May, AI-related investments contributed approximately 75% of U.S. GDP growth in the first quarter of 2026. Sacks noted that AI investment will drive about 2.5% of GDP growth this year and over 3% next year, significantly larger than previously recognized.

Morgan Stanley's report forecasts the five major cloud providers—Amazon, Alphabet, Meta, Microsoft, and Oracle—will increase capital expenditures to approximately $805 billion in 2026, up from the prior estimate of $765 billion, and to $1.1 trillion in 2027, up from $951 billion.