Goldman Sachs AI adoption tracker: 22.4% of US firms now use AI, semis on track for $863B

Goldman's monthly tracker of AI investment and adoption through August 2026. Semiconductor revenue is expected to reach $863B annualized by year-end, gross-profit forecast revisions for AI-exposed public companies have reached $1.1T since 2022, and US AI hardware investment runs $485B above its 2022 level. Firm-level adoption rose to 22.4% of US establishments (25.9% expected in six months), led by the information sector. The cleanest monthly read on whether the AI capex cycle is translating into adoption.