AI Spending Is Real, Not Just Hype
- Measuring Business Tech Investment: This chart tracks how much U.S. businesses spend on computers and data center hardware, shown in dollars at a seasonally adjusted annual rate since 1990. It captures purchases of computing equipment like servers, storage, and personal computers.
- A Look at the Data: As of January, 2026, business spending on computers and data center hardware reached $384B at a seasonally adjusted annual rate, up sharply over the past few years.
- Investment Implications: The recent surge suggests the spending behind the AI theme is showing up in real economic data, not just headlines.
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