Goldman Sachs: AI Could Trigger US Inflation, Storage Surge Is the Key Driver

Golden Finance July 13｜Goldman Sachs' latest research indicates that the United States is likely to bear the brunt of a global inflation wave triggered by artificial intelligence (AI). The Wall Street giant has analyzed how the AI craze is driving up global consumer prices. Due to supply constraints, prices of key components like memory chips and semiconductors have been pushed higher. Goldman Sachs economist Megan Peters pointed out that the U.S. may suffer the most severe inflation shock. According to Goldman Sachs estimates, AI is increasing the U.S. core Personal Consumption Expenditures (PCE) inflation rate (the Federal Reserve's preferred inflation metric) by about 20 basis points annually. By the end of this year, it is expected that such inflationary pressure will more than double, raising the impact on core PCE to 50 basis points.