Companies spent $450 billion on AI last year. So where did the money go? Goldman Sachs says productivity gains remain near zero

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Let me tell you why this Goldman Sachs headline is the most dangerous one you’ll read today..

Companies spent $450 billion on AI last year.. fired tens of thousands of people to “restructure around AI”.. replaced entire departments with chatbots..

And Goldman Sachs just said it contributed basically zero to economic growth..

so where did the money go?

> It went to Nvidia.. $130 billion in GPU sales.. Jensen is the only man on earth who got rich from AI that hasn’t produced anything yet..

> It went to stock buybacks.. companies fired people, cut costs, reported “record profits” and bought back their own shares.. the money went UP not OUT.. Jesus!

> It went to a bubble.. the same way crypto money went to Lamborghinis and not infrastructure.. AI money is going to valuations and not productivity..

here’s the part that should terrify you..

They already fired the people.. Atlassian 1,600.. Meta 21,000.. Block 40%.. Amazon warehouses.. the jobs are already gone..

But the growth didn’t come.. the productivity didn’t come.. the revenue didn’t come..

they burned the village to build a city that doesn’t exist yet..

and Goldman Sachs just looked at the empty lot and said “there’s nothing here”

“Massive investment in AI contributed basically zero to US economic growth last year,” per Goldman Sachs

Goldman Sachs says AI’s impact on the US economy was “basically zero” last year

Goldman Sachs analysts have suggested that the impact of AI on the US economy was “basically zero” in 2025. The investment bank argued that large language models, chatbots, and other AI-related technologies did not meaningfully contribute to the country’s officially recorded 2.2 percent GDP growth last year.

According to Goldman Sachs’ Joseph Briggs, some recent projections about AI’s economic impact rely on optimistic narratives that may obscure a deeper assessment of underlying trends. Analysts at Morgan Stanley, JPMorgan Chase, and other major financial institutions have expressed similar views, suggesting that much of the technology sector’s growth may be indirectly benefiting manufacturing economies in Asia.

Massive data center expansion plans announced by Amazon, Google, Microsoft, and other major technology companies will require significant supplies of computing hardware over the coming years. Analysts estimate that roughly three-quarters of Big Tech’s projected capital expenditure could contribute directly to gross domestic product growth in Taiwan and other Asian technology manufacturing hubs

https://www.techspot.com/news/111440-goldman-sachs-ai-impact-us-economy-basically-zero.html