When examining the components of GDP, the data reveals another strong quarter for capex, which is also referred to as nonresidential fixed investment. Despite this solid performance, the gains continue to be partially offset by a persistent drag from net exports. A key reason for this is that the current AI buildout is highly import-driven. Consequently, these foreign purchases do not accrue to the benefit of our national economic growth. After all, it is always worth keeping in mind that the D in GDP stands for domestic.