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Discussion Paper
Capital and AI Investment in the Fifth District
According to the Bureau of Economic Analysis, much of the recent growth in private sector investment in the U.S. economy has been technology related, from investment in information processing equipment and intellectual property products to exponential growth in data centers. In addition, many firms have been spending on services like subscriptions or training to determine how they can best employ artificial intelligence (AI) technology. In June, we asked over 250 firms in the Richmond Fed's Fifth District about their capital investment, AI adoption, and factors such as employment and prices. ...
Discussion Paper
Data Center Construction: How Are Fifth District Businesses Involved?
The Fifth District is home to more than 20 percent of the nation's data centers, and development continues to accelerate, reflecting the industry's expanding physical presence across the region. As data centers have become an increasingly large part of the local business ecosystem, it is important to understand how they are affecting regional businesses.To better understand the impact of data centers on local businesses, we asked firms in our October business surveys a series of questions about their direct or indirect involvement in data center construction. While most firms remain ...