AI Data Insight
The annual growth rate of US nonresidential private fixed investment reached 4.2% in 2025, accelerating further from 3.7% in 2024, primarily benefiting from record-breaking AI infrastructure and data center construction. Although investment in traditional commercial real estate and manufacturing remained weak due to suppression by high interest rates, the capital expenditure frenzy of tech giants successfully offset some of the headwinds from economic cooling. The market expects a broader equipment renewal cycle to arrive after the Federal Reserve cuts interest rates in 2026.