U.S. Economy Surges 3.4% on AI Spending; $63B Deal for Anthropic

Key Takeaways

• The U.S. economy grew at a 3.4% annual pace in Q3, up from 2.2% in Q2, driven by consumer spending and AI investment
• Investment in information processing equipment surged 37.4% as businesses poured money into AI infrastructure
• Four Wall Street firms announced a $63 billion deal to finance AI hardware purchases from Broadcom for Anthropic
• Anthropic has five-year leases totaling approximately $161.2 billion for AI computing equipment
• Broadcom guarantees residual value of its chips, transferring hardware depreciation risk to its own balance sheet
• Stephen Schwarzman warned about potential excessive exuberance in AI investments
• Scale AI rejected privacy complaints filed in four European countries alleging illegal monitoring of 900,000 freelancers
• The Anthropic IPO filing is seen as strengthening the case for AI stocks and infrastructure companies
• The Netherlands plans to cut 25,000 government jobs by 2035, saving 3.5 billion euros through AI-led efficiency
• AI-enabled investment fraud stole 24.3 million pounds between January and August 2026, with victims aged 60+ comprising nearly 80% of reports

US economy grows at brisk 3.4% pace in third quarter

The U.S. economy grew at a 3.4% annual pace from July through September, up from the previous quarter. Consumer spending rose at a 3.8% rate and business investment increased sharply. Growth was driven by an AI investment boom and strong spending. The Commerce Department released the report on Thursday.

AI investment and consumer spending may boost US growth in Q3

US economic growth likely accelerated in the third quarter as consumer spending and AI-driven business investment offset higher oil prices from Middle East conflicts. The Commerce Department planned to publish its advance GDP estimate on Thursday before midterm elections. GDP likely increased at a 3.2% annualized rate, according to a Reuters survey of economists. The economy grew at a 2.2% pace in the April-June quarter.

US economy surges at 3.4% pace in Q3 on spending and AI boom

The U.S. economy grew at a healthy 3.4% annual pace from July through September, accelerating from the second quarter. Consumer spending and investment in artificial intelligence drove the growth. Economists had expected GDP to grow 3% in the third quarter. Business investment excluding housing rose 12.7% in the third quarter.

US economy grows at brisk 3.4% pace in third quarter

The U.S. economy grew at a healthy 3.4% annual pace from July through September, accelerating from the second quarter. Consumer spending rose at a brisk 3.8% clip and business investment was up sharply. The American economy proved resilient despite higher energy prices from fighting with Iran. Economists had expected GDP to grow 3% in the third quarter.

US economy grows at brisk 3.4% pace in third quarter

The U.S. economy grew at a healthy 3.4% annual pace from July through September, up from 2.2% growth in the previous quarter. Consumer spending rose at a 3.8% rate and business investment reflected the AI boom. Investment in information processing equipment surged 37.4%, in software 9.6% and in research and development 7.5%. Housing investment dropped 3.3% due to high mortgage rates.

US economy grows at brisk 3.4% pace in third quarter on strong consumer spending and AI investment

The U.S. economy grew at a 3.4% annual pace from July through September, faster than the expected 3%. Business investment excluding housing rose 12.7%, with information processing equipment up 37.4%. The Commerce Department reported the strong growth driven by consumer spending and AI investment. Housing investment declined due to rising costs. This was the first of three estimates for third-quarter GDP growth.

AI Investment and Consumer Spending Drive U.S. Economy Growth of 3.4% in Q3

The U.S. economy grew 3.4% in the third quarter, boosted by investment in artificial intelligence and strong consumer spending. Growth was 1.2 percentage points higher than the previous quarter and exceeded market expectations. The economy is gaining momentum despite high inflation and interest rates. Observers say the expansion shows resilience in the face of economic challenges.

US economy grows 3.4% in third quarter led by consumer spending and AI investment

US GDP grew at a 3.4% annualized rate in the third quarter, the quickest since the third quarter of 2025. Consumer spending rose 3.8% in the July-September period, matching the second quarter pace. Business equipment spending surged 20.9%, the fastest since 2020. Imports rose 19.7%, creating a drag on GDP calculations. The Commerce Department released its first estimate of third-quarter GDP ahead of midterm elections.

US GDP grew by 3.4 percent in third quarter amid AI investment boom

US economic growth increased in the third quarter as AI investment surged and consumers kept spending despite persistent inflation. Real GDP increased at an annual rate of 3.4% from July through September, up from 2.2% in the second quarter. Nonresidential business investment jumped 12.7%, the highest quarterly increase since early 2024. Inflation remains above the Federal Reserve's 2% target, and many households are dipping into savings to fund spending.

AI Hardware Investment Drives 3.4% Growth in US Economy

The U.S. real GDP growth accelerated to 3.4% in the third quarter, driven by gross private domestic investment including information processing equipment. This was up from 2.2% in the second quarter. The Bureau of Economic Analysis said investment, consumer spending and government spending increased, partly offset by a decrease in exports. Equipment investment rose 20.9% from the second quarter. The report attributed growth to resilient consumer spending and business investment in artificial intelligence.

US economy grows at 3.4% pace in third quarter on consumer spending and AI investment

The U.S. economy grew at a 3.4% annual pace from July through September, up from 2.2% in the second quarter. Consumer spending rose at a 3.8% rate and business investment jumped 12.7%, driven by a boom in artificial intelligence investment. The Commerce Department reported the data on Thursday. Growth was strong despite higher energy prices from the fighting with Iran.

US economy grows at surprising 3.4% rate powered by consumer spending and AI investment

The US economy grew faster than expected at a 3.4% annual rate in the third quarter, up from 2.2% in the second quarter. Consumer spending grew 3.8% even as Americans faced higher prices from the Iran war and gasoline costs. Business investment grew 12.7%, fueled by hundreds of billions in spending on data centers and computing capacity for AI. Consumer prices rose 3.5% during the same period.

US economy grows at brisk 3.4% pace in third quarter on strong consumer spending and AI investment

The U.S. economy grew at a healthy 3.4% annual pace from July through September, accelerating from the second quarter. Consumer spending increased 4.1%, the largest gain since early 2022. Business investment rose 6.4%, the fastest pace since late 2020. Personal income grew 3.4% and government spending increased 2.6%. The Commerce Department released the data on Friday.

US Third-Quarter GDP Growth Seen Accelerating to 3.2% on AI Investment and Consumer Spending

The Commerce Department was set to release its advance estimate of third-quarter GDP growth. Economists expected AI investment and resilient consumer spending to drive results. Business spending on equipment was expected to show a third straight quarter of double-digit growth. Experts said AI-related investment and strong consumer spending were both key factors in the expected GDP growth.

Scale AI rejects claims it illegally surveils AI-training workers

Scale AI rejected privacy complaints filed against it in four European countries, calling them unfounded. The company said it cooperated with European Data Protection Authorities and the European Commission to follow the General Data Protection Regulation. Scale AI stated it provided clear information to workers about data collection and that workers gave consent. The investigation began after workers complained that Scale AI collected personal data without permission.

Scale AI defends its AI training worker monitoring practices

Scale AI rejected privacy complaints filed in four European countries on October 27. The complaints allege the Outlier platform illegally monitors over 900,000 freelancers. Scale AI says it uses standard tools to verify identities and prevent fraud. The company stated workers consent to these practices and know their pay rates beforehand. Certain projects use time and screen recording tools that contributors manually activate.

Wall Street commits $63B to AI hardware deal with Broadcom risk

Blackstone, Bank of America, Citigroup, and Morgan Stanley announced a $63 billion financing deal on October 26. The deal buys AI computing equipment from Broadcom and leases it to Anthropic. Broadcom provides residual-value guarantees to protect lenders against hardware losing value. The structure shifts risk to Broadcom, which depends heavily on AI demand. Market reactions were mixed, with lender stocks rising and Broadcom shares falling.

Wall Street's $63B AI deal reveals risk beyond the tech sector

Four Wall Street firms announced a $63 billion AI financing structure on October 26. The money buys AI equipment from Broadcom and rents it to Anthropic, which has five-year leases totaling approximately $161.2 billion. Broadcom guarantees the residual value of its own chips, transferring equipment-value risk to its balance sheet. Analysts noted that if AI hardware values decline, losses could reach retirement portfolios and insurance policyholders. Blackstone CEO Stephen Schwarzman warned about potential excessive exuberance in AI investments.

Katherine Hall Page mysteries meet Ken Liu's AI thriller

Katherine Hall Page writes Faith Fairchild mysteries set in New England that combine murder and recipes. Ken Liu authored a new novel exploring AI surveillance in a near-future Greater Boston setting. The two authors' works were featured together in a discussion. The pairing highlights contrasting approaches to storytelling in the mystery and science fiction genres.

Anthropic IPO filing strengthens the case for AI stocks

The Anthropic IPO filing showed improving AI profitability and surging compute demand. The filing revealed details about the company's financial performance and growth. Analysts said the filing strengthens the investment case for AI stocks and infrastructure companies. Luke explained what the filing means for investors in the AI sector. The filing is seen as a positive signal for the broader AI industry.

Chicago companies add AI to their names

Many Chicago area tech companies are adding AI to their names or changing product names. Some firms are also updating website domains to connect with the AI trend. Experts say this is a way to tap into AI's popularity. Dr. Rachel Kim from the University of Illinois at Chicago says it is about both the name and the technology itself.

AI robocalls attack Texas candidate Talarico

A pro-Ken Paxton super PAC called Lone Star Liberty used AI powered robocalls against James Talarico in Texas. The calls claim Talarico took money from data center special interest groups. Elon Musk gave Lone Star Liberty 10 million dollars. Talarico denies the claims and his campaign calls them misinformation. CNN reviewed recordings of the robocalls.

AI investment fraud steals 24.3 million pounds

Criminals used AI and deepfakes to steal 24.3 million pounds in fake investment schemes between January and August 2026. Report Fraud received over 1,300 reports of this AI enabled fraud. People aged 60 or older made up nearly 80 percent of the reports. Police warn that AI makes fraudulent investment offers look more believable. Victims are tricked into sending more money after seeing fake profits.

Netherlands to cut 25,000 jobs for AI efficiency

The Netherlands government plans to cut 25,000 jobs by 2035 as it shifts to AI led efficiency. Eric van der Burg said the government must reduce organizational costs. The cuts are expected to save about 3.5 billion euros by 2035. Some agencies could lose 60 percent of their workforce. The government says it will become simpler, smarter and smaller.

Shopify CEO turns cellar into AI server

Shopify CEO Tobi Lütke converted his wine cellar into an AI server room. He did this because he did not have enough wine to fill the space. The server is used to track stress. The information comes from a report by Business Insider and Bloomberg.

Sources

• The US economy grew at a faster 3.4% pace from July through ...
• AI investment, consumer spending likely to boost US growth in Q3
• US economy surges at a 3.4% pace in Q3 on strong spending and an AI boom
• US economy grows at brisk 3.4% pace in third quarter on strong consumer spending and AI investment
• US economy grows at brisk 3.4% pace in third quarter on strong consumer spending and AI investment
• US economy grows at brisk 3.4% pace in third quarter on strong consumer spending and AI investment
• AI Investment and Consumer Spending Drive U.S. Economy...3.4% Growth in Q3
• US economy grows 3.4% in third quarter led by consumer spending and AI investment
• US GDP grew by 3.4 percent in third quarter amid AI investment boom
• AI Hardware Investment Drives 3.4% Growth in US Economy
• U.S. economy grows at brisk 3.4% pace in third quarter on strong consumer spending and AI investment
• US economy grows at surprising 3.4% rate, powered by consumer spending, AI investment
• US economy grows at brisk 3.4% pace in third quarter on strong consumer spending and AI investment
• US Third-Quarter GDP Growth Seen Accelerating to 3.2% on AI Investment and Resilient Consumer Spending
• Scale AI rejects claims it illegally surveils AI-training workers
• Scale AI rejects claims it illegally surveils AI-training workers
• Wall Street commits $63B to AI hardware with risk shared by chipmaker Broadcom.
• Wall Street’s New $63 Billion AI Deal Reveals a Risk That Could Spread Beyond Tech
• Katherine Hall Page’s mysteries meet Ken Liu’s AI thriller
• Anthropic IPO Filing Strengthened the Case For AI Stocks
• AI is creeping into the names of these Chicago-based tech companies
• AI-powered robocalls attack Talarico on data centers
• Report Fraud warning after £24.3 million stolen through AI enabled investment endorsement schemes
• 25,000 workers in the Netherlands to lose jobs to AI
• Shopify's CEO turned his cellar into an AI server that tracks stress