ARK Invest CEO Cathie Wood argued that stronger real growth, productivity gains and a 99.99% annual decline in AI inference costs could produce disinflation or benign deflation despite higher interest rates. Bill Ackman countered that demand for computing capacity, energy and infrastructure could remain strong because companies expect unusually large AI returns, while Bank of America chief investment strategist Michael Hartnett compared concentrated AI-market gains with the period before the 2000 dot-com bubble burst. Wood said the 10-year U.S. Treasury yield is near its historical median, U.S. money-supply growth is approaching 5.7% without renewed inflation, and 90% of global data-center financing is in the United States. The Federal Reserve raised its benchmark rate by 25 basis points on September 16, 2026, to 3.75%–4.00%, while Hartnett said hyperscale cloud capital spending could reach 3.5% to 4% of U.S. GDP next year.