Goldman says AI boom adds 0.5% to U.S. core PCE inflation by year-end
GS•AI buildout seen adding to core inflation
Goldman Sachs estimated the AI boom adds 0.2 percentage points a year to U.S. core PCE inflation, rising to about 0.5 points by year-end.
Tekedia Capital analysis flagged near-term inflation risks from the AI buildout, led by supply bottlenecks in chips, software and power.
The U.S. impact was seen as far larger than peers, with Canada, Australia, Europe, the U.K. and Japan projected near 0.1 points each.
Data centers are projected to reach 11% of U.S. electricity demand by decade-end, from about 6%, reinforcing upward pressure on utility prices.
Longer term, productivity gains could turn disinflationary, though the report warned high infrastructure intensity may delay that payoff.
