Epoch AI says US GDP underestimates AI growth by missing Nvidia's value

Epoch AI argues US GDP growth over the last year was underestimated by about 0.3 percentage points because value from fabless chipmakers like Nvidia goes unrecorded.

The report says no goods export, IP export, service export, or merchanting category captures Nvidia's value-add, and the Bureau of Economic Analysis confirmed the analysis.

If Nvidia's growth continues, the gap could reach almost two percentage points per year by 2028.