Hassett says AI is a well-funded ecosystem, not a financial crisis in waiting

The White House's top economic adviser points to private capital, a $10.3 trillion investment projection and possible 4% GDP growth Kevin Hassett wants you to stop worrying about the AI money. The director of the White House National Economic Council said the artificial intelligence sector has plenty of funding and does not resemble a financial crisis. Hassett made the case before the Economic Club of New York on September 28, 2026. His argument: AI is propped up by strong private-sector investment, which separates it from industries that tend to buckle when the economy turns. The numbers behind the optimism Hassett did not stop at calling AI well-funded. He paired it with a growth forecast that sits well above the consensus. He projected that US GDP could grow about 4% if no external shocks hit. That beats the administration’s own 3% target, and it roughly doubles private-sector forecasts of around 2%. The engine behind that forecast is capital spending. Hassett pointed to heavy expected investment in AI-linked infrastructure, including data centers and semiconductors. The headline figure is large. AI-related investment in the US is projected to total $10.3 trillion from 2025 to 2...