AI Spend Has Been 'Critical' for US Economy, Says Torsten Slok

Apollo Global Management chief economist Torsten Slok said AI investment plays a critical role in supporting the US economy. He noted that AI equipment purchases continue to push up import prices, as they have all year, and companies face rising costs from building AI infrastructure.

• Slok: AI spending is critical for the US economy
• AI equipment drove import price growth in August
• Companies face rising costs from AI infrastructure
• Commodity volatility from the war with Iran raised material prices