The artificial intelligence boom has supported U.S. growth for more than a year, but Goldman Sachs chief economist Jan Hatzius expects the boost to peak in late 2026 or early 2027. Apollo chief economist Torsten Slok says AI has delivered no financial payoff to American companies outside the technology sector. Outside the Magnificent 7, inflation-adjusted revenue per worker and profit margins remain flat in the S&P 493, while productivity shows no AI-related lift. Goldman Sachs remains optimistic about future economywide productivity and profit gains, even though AI investment as a share of GDP is expected to slow. The wealth effect attributed to AI-related stocks added 0.4 percentage point to U.S. consumer spending growth, or 0.25% of GDP, but is expected to fade over the coming year.
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