Post by Andreessen Horowitz

Making the stuff that makes the stuff. Even within the category of "equipment" (which has experienced an investment boost in the last few years, with growth approaching 9%), the manufacturing boom-let is fairly narrow, with a singular focus on AI. Investment in core industrial machinery is a smaller part of the picture, and that too, is largely dominated by AI-related needs. In other words, where there's investment in the capital stock, it's almost entirely focused on the AI build-out, rather than the manufacturing base, more broadly.