This economic idea transfixed Wall Street and Washington. It may be a mirage.
Democracy Dies in DarknessMassive investment in AI contributed “basically zero” to U.S. economic growth last year, Goldman Sachs has calculated.February 23, 2026 at 5:00 a.m. ESTToday at 5:00 a.m. EST(Washington Post illustration; iStock)A new economic indicator has captivated Silicon Valley, Wall Street and Washington.Technology companies’ massive spending on artificial intelligence accounted for half or more of U.S. growth last year, some economists calculated, effectively propping up an other...
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