According to a report by the Financial Times, Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), stated that the AI investment boom is spreading from the United States to the rest of the world. As countries increase their investment in data centers and related infrastructure, AI is gradually becoming an engine of global economic growth, moving beyond the US phenomenon.
Georgieva stated that the global economy was impacted by the energy shock caused by the war with Iran and the closure of the Strait of Hormuz, but its actual performance was better than previously expected. Decreasing energy demand, the release of emergency oil and gas reserves, increased energy supplies from outside the Gulf, and growth in renewable energy and coal supplies collectively mitigated the effects of the energy crisis.
She pointed out that the global economy is currently caught in a tug-of-war between the AI boom and the economic impact of the Iran war. Although AI investment is mainly concentrated in the United States, countries that participate in the AI hardware supply chain and export related products globally are also benefiting.
However, Georgieva warned that the energy shock is not over yet. With oil and gas reserves continuing to decline and the Northern Hemisphere winter approaching, another rise in oil prices could push up inflation and force central banks around the world to raise interest rates, thereby increasing government financing costs and dragging down economic growth.