America Inc: Growth or gambit?
U.S. corporate profits are roaring — nine consecutive quarters of growth and a $1 trillion capital expenditure wave. But peel back the AI glow, and a split emerges.
While tech giants like Amazon, Microsoft, and Meta drive most of the new investment, nearly half of the S&P 500 are cutting back — from automakers and oil majors to consumer goods firms. Tariffs, trade uncertainty, and policy whiplash are leaving much of the non-AI economy frozen in place.
The question for 2026: is corporate America’s engine firing on all cylinders — or running too hot on one?
Source: https://www.economist.com/business/2025/10/23/american-big-business-faces-a-1trn-capex-question
