According to @DowdEdward, AI Capex has been a huge driver of GDP (source: Edward Dowd, Oct 6, 2025 tweet). The claim aligns with hyperscaler guidance: Alphabet said 2024 capex would be meaningfully higher than 2023, primarily for AI technical infrastructure (source: Alphabet Q2 2024 earnings release and call); Meta raised 2024 capex to $35–40B to fund AI and data centers (source: Meta Q2 2024 results); Microsoft flagged elevated FY25 capex to build AI infrastructure (source: Microsoft FY24 Q4 earnings call); Amazon signaled 2024 capex would meaningfully increase, led by AWS and AI (source: Amazon Q2 2024 earnings call). NVIDIA reported record Data Center revenue in Q2 FY2025 driven by generative AI demand, evidencing infrastructure-led growth (source: NVIDIA Q2 FY2025 earnings release). BEA reported that nonresidential fixed investment in equipment and intellectual property products contributed positively to U.S. real GDP in 2024, with information processing equipment and software notable components (source: U.S. Bureau of Economic Analysis, 2024 quarterly GDP news releases). For crypto, AI-driven data center buildouts are reshaping miner economics as BTC miners pivot capacity to AI/HPC hosting—Core Scientific signed multi‑year AI hosting agreements totaling hundreds of megawatts with CoreWeave with multi‑billion contract value (source: Core Scientific press releases, June and July 2024), while Applied Digital and Iris Energy expanded AI cloud/HPC services (source: Applied Digital 2024 press releases; Iris Energy 2024 company updates). Rising AI data center load is also tightening Texas power markets, a key cost driver for miners (source: ERCOT 2024 reports on large flexible loads).