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The AI Boom Is Transforming the American Economy Beyond Recognition by Justin Lahart

William Attardi on August 5, 2026

AI has rapidly become a huge economic factor while affecting everything from capital investment to how much you pay for an iPhone. The U.S. economy keeps putting more eggs in the artificial-intelligence basket.  Oxford’s Michael Pearce estimates that AI investment alone has been behind nearly a quarter of the growth in gross domestic product recently. The AI-boosted stock market is the other big source of support. In the first quarter, U.S. household net worth reached $174 trillion, according to the Federal Reserve, an increase of $13 trillion from a year earlier that was mostly due to stock gains. Since then, the broad S&P 1500 index has risen by about 15%, so net worth is likely trillions of dollars higher now. Those gains have been driven in large part by enthusiasm for AI. When people’s net worth increases, they spend more freely. Estimates of these wealth effects vary, but economists generally think that for every dollar in stock-market wealth gained, people spend a few cents more. The AI Boom Is Transforming the American Economy Beyond Recognition – WSJ

Larry Ellison Bet It All on the A.I. Boom. Will He Be the Face of the A.I. Bubble?

William Attardi on July 31, 2026

Inside the 81-year-old billionaire’s risky, debt-fueled scramble to transform his data empire into an A.I. juggernaut. The president announced “the largest A.I. infrastructure project by far in history” and told the world that his friend Larry Ellison was just the man to get it done. “He’s sort of C.E.O. of everything,” Trump said. Ellison began by thanking Trump. “We certainly couldn’t do this without you,” he said. “It would simply be impossible.” He then proceeded to sketch out the ambitious plan. Ellison’s database software and cloud computing company, Oracle, and its partners — most prominently OpenAI — were going to invest as much as $500 billion over the next four years into a group of sprawling data centers, 500,000 square feet each, that would produce 10 gigawatts of computing power, using enough energy to power as many as 10 million homes. It was called Project Stargate, after the 1994 sci-fi movie. The effort began in late 2022 when the launch of ChatGPT stunned the world and set in motion a race to master and control the most transformative new technology since the birth of the internet. Analysts began bidding up how much generative A.I. would add to the global economy: $7 trillion over 10 years, $200 trillion by 2030and so on. Larry Ellison Bet It All on the A.I. Boom. Will He Be the Face of the A.I. Bubble? – The New York Times

AI Boom to Drive Data Center Electricity Demand to 20% of US Total by 2035

William Attardi on July 21, 2026

Data centers in the US are projected to consume 20% of the nation’s electricity by 2035, a significant rise from 5.9% this year. The increase reflects a dramatic surge in energy demand, particularly in states like Virginia and Texas, where data centers are heavily clustered. BloombergNEF forecasts data center power requirements will reach 194 gigawatts, underscoring the sector’s escalating impact on national power consumption over the next decade. AI Boom to Drive Data Center Electricity Demand to 20% of US Total by 2035 – Bloomberg

It’s Back to School – How Some of Our Most Acknowledged Universities Got Their Name – Who were the true visionaries who would donate half of their estate to sculpting the minds of the future. These stories are monuments to history and culture. Let’s take a stroll through academia’s memory lane and uncover the origins of these storied university names!

  1. Ah, Harvard! The Ivy League giant was once a small college in the Massachusetts Bay Colony settlement called New Towne. But where did “Harvard” come from? Enter John Harvard, a clergyman who, in 1638, decided to bequeath half his estate and his library (a whopping 400 books!) to the fledgling college. Grateful for this generous gift, they promptly named the institution after him.
  2. A gem of New Haven, Connecticut, Yale is another Ivy League powerhouse known for its prestigious law and drama schools. It owes its name to Elihu Yale, a wealthy merchant who, in 1718, donated a modest shipment of goods (including portraits, books, and textiles) to a struggling collegiate school. Those goods were auctioned off, raising a much-needed £562 –a small fortune at the time.
  3. Dartmouth is renowned for its beautiful rural setting, nestled in the picturesque town of Hanover, New Hampshire. It was named after the Earl of Dartmouth, William Legge, a British nobleman who supported the college’s founding –despite never actually setting foot in America!
  4. Brown, this Rhode Island Ivy University, known for its open curriculum and emphasis on student choice, was founded with a mouthful of a name – the College in the English Colony of Rhode Island and Providence Plantations. It was renamed in 1704 for Nicholas Brown, Jr., a prominent merchant whose family donated generously to the school.
  5. Perched atop a hill overlooking Ithaca, New York, Cornell is celebrated for its diverse academic programs and its stunning natural surroundings. Founded by Ezra Cornell and Andrew Dickson White, this university was unique for its commitment to practical education, allowing students the freedom to choose their own course of study. It was a revolutionary notion at the time, which would guide a curricular reform across the country.
  6. Located in the heart of Silicon Valley, Stanford is renowned for its entrepreneurial spirit and its close ties to the tech industry. But this California powerhouse has a touching origin story. Leland Stanford, Jr., the founder’s son, tragically died young from typhoid fever. His father Leland Sr., railroad magnate and former state governor, and his mother Jane, founded the university in his memory, ensuring his legacy lived on through the pursuit of knowledge.
  7. This North Carolina research giant, known for its strong medical and law schools, underwent a bit of a name change in its history. Originally called Trinity College, it was renamed Duke University in 1924 after James Buchanan Duke, a tobacco and electric power industrialist who founded the American Tobacco Company. He established The Duke Endowment, to which he donated throughout his life and left half his estate after his death.
  8. Nestled in Nashville, Tennessee, Vanderbilt is a renowned research university with a vibrant campus life. It owes its name to “The Commodore,” Cornelius Vanderbilt, a shipping and railroad magnate, who provided the initial gift to establish the university.
  9. Texas businessman William Marsh Rice provided the initial funding for this Houston university, but did not live to see its opening. He was murdered by his valet as he slept, in a plot to forge the man’s will. Despite the unfortunate circumstances, Rice University flourished through the years, becoming an institution known for its strong engineering and science programs.
  10. Who was Harvard named after? Origin of university names