Big 4 AI capex hits 2.4% of GDP, double the telecom bubble peak — but still below railroads
rickasaurus · x · 2026-09-27
- Deedydas notes the Big 4 tech companies' AI capex buildout now equals 2.4% of GDP, twice the peak of the telecom bubble 25 years ago — the largest infrastructure buildout in US history, surpassing even railroads.
- Economist Noah Smith pushes back: AI spending is nearing railroad levels and the decade average may exceed them, but railroads peaked at 5.4% of GDP in the 1870s and 4% in the 1880s, still the all-time benchmark.
Related event: Big Tech AI Capex Hits 2.4% of GDP, Twice Telecom Bubble Peak(2 posts)→
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