CITIC Securities: AI has become an important driving force for economic growth in the United States.

CITIC Securities' research report points out that in recent years, driven by the implementation of generative AI and the expansion of cloud providers' data centers, the capital expenditures of major technology companies in the United States have risen rapidly since 2024. The proportion of AI investment in the U.S. GDP has also increased quickly to 10% in recent years. AI is becoming an important driving force for U.S. economic growth, but at the same time, the development of AI may have certain negative impacts on the overall employment in the U.S. in the short term and will affect the employment structure in the future. Moreover, the rapid development of AI has led to shortages of electricity and chips, which has also contributed to inflationary pressures in the United States to some extent.