Fed Minutes: AI Continues to Drive Real Investment Spending in Data Centers, High-Tech Equipment, and Software

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Golden Finance reported that on July 9, the minutes of the Federal Reserve's June meeting showed that existing indicators indicate that real GDP growth maintained a solid pace in the second quarter. Real private domestic final spending—including personal consumption expenditures and private fixed investment, which typically better reflects underlying economic trends than real GDP—rebounded in the second quarter, growing even faster than GDP. Real consumer spending remained strong, and the expansion of artificial intelligence continued to drive real investment spending in data centers, high-tech equipment, and software. April data showed that imports and exports of high-tech products continued to grow strongly, and energy exports also saw a significant increase.
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