Bank of America (BofA) has identified the current US economic structure as reliant on two main drivers: household spending and the burgeoning artificial intelligence (AI) sector. In a recent report, BofA economists described this situation as a “two tailwinds, one risk” scenario, warning that the ongoing conflict involving Iran could disrupt both economic engines. AI investment is projected to be a significant contributor to GDP growth, with estimates suggesting that major tech firms could spend up to $800 billion on AI infrastructure by 2026. This investment is expected to add over 2% to GDP growth in that year. Meanwhile, consumer spending has shown resilience, contributing about 1.08% to GDP growth in early 2023, driven primarily by healthcare and services. However, the war in Iran raises concerns over rising energy prices, which could lead to inflation that diminishes household purchasing power and slows consumer spending. Additionally, the AI boom could face challenges from energy supply bottlenecks, further complicating the economic outlook.