This line chart compares the AI investment cycle to four historical investment cycles, showing the change in share of GDP (percentage points) over years from the start of each investment cycle. The chart demonstrates that AI investment is ramping up faster than previously predicted and generally inclining more sharply than historical precedents. The y-axis ranges from –0.2 to 1.2 percentage points. The x-axis shows years 0 through 8. Two teal lines represent AI investment: “Actual AI trajectory” (solid teal line) starts at 0% at year 0 and immediately enters negative territory, before rising to approximately 1.1% between years 3 and 4. “AI forecast as of December 2025” (dashed teal line) begins at approximately 0.5% between years 2 and 3 and rises to approximately 1.0% around year 4. The four historical comparison cycles are shown through gray dotted lines: “Post-WWII auto manufacturing” and “Railroads” each peak around 1.3% near year 5. “Telecoms” peaks near 1.2% between years 5 and 6, while “Oil & gas” peaks above 1.2% between years 3 and 4.