Institution: The statement that "NVIDIA is supporting the growth of the U.S. economy" may not be an exaggeration.
George Saravelos, Global Head of Foreign Exchange Research at Deutsche Bank, stated that without technology-related spending, the United States may have already been close to a recession, or even in a recession this year. He said that it is not an exaggeration to say that NVIDIA alone is "currently supporting US economic growth." Saravelos pointed out in his report that there is a problem with this situation: in order for technology spending to continue to support the economy, "capital investment needs to maintain exponential growth." However, he believes that this situation is highly unlikely to occur - citing related studies that capital expenditures of so-called "mega-scale tech companies" such as Microsoft, Amazon, and Google are expected to reach a peak this year.
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