Summary · why it matters
Elon Musk is betting artificial intelligence will roughly double US economic growth next year, from around 2% to 4%, writing on X that it could be "maybe even more." The forecast lands as investors debate whether massive AI infrastructure spending will translate into broad productivity gains, and how quickly. Apollo Global Management's Torsten Slok estimates US AI-related capital expenditure could reach about 3% of GDP annually from 2027 through 2029, up from roughly 0.6% three years earlier, according to Reuters Breakingviews, while US technology companies are on course to spend nearly $1 trillion on chips and data centers in 2027, according to Moody's analysts cited by Reuters, compared with about $165 billion expected from Chinese rivals. Mainstream forecasts remain far less bullish: Morningstar expects US growth to slow through 2027 rather than accelerate toward Musk's 4% target, and the Federal Reserve raised its benchmark rate to 4.00% on September 16, with Goldman Sachs expecting another increase in October. Musk's companies Tesla and xAI have substantial interests in continued AI expansion, though his post did not disclose those interests, Reuters noted.
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NVIDIA Corporation
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Apollo Global Management LLC Class A
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Tesla Inc