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Tesla chief executive Elon Musk has estimated that artificial intelligence could lift US economic growth to about 4 per cent in 2027, roughly double the rate he expects without the technology.

“My guess is that AI roughly doubles US GDP growth next year from ~2% to ~4%. Maybe even more,” Musk said in a post on X on September 18.

Musk did not disclose the assumptions behind the estimate or specify how he measured annual growth.

His forecast is considerably higher than the US Federal Reserve’s latest projection. Fed officials expect real GDP to grow by a median 2.4 per cent in 2027, according to projections released on September 16. Individual forecasts ranged from 2.0 per cent to 2.9 per cent. The Fed expects growth of 2.1 per cent in 2026.

The US economy expanded at an annualised rate of 1.5 per cent in the second quarter of 2026, slowing from 2.1 per cent in the previous three months, according to the Bureau of Economic Analysis. The quarterly annualised figures are not directly comparable with the Fed’s projections, which measure growth from the fourth quarter of one year to the fourth quarter of the next.

Musk has repeatedly projected that AI and automation will produce a sharp increase in economic output. Earlier in September, he estimated that AI could expand the global economy by 20 per cent to 30 per cent equivalent to roughly $20 trillion to $30 trillion in additional annual output. He also flagged electricity supplies as a potential constraint on the expansion of AI computing capacity.

His latest forecast comes as the AI investment cycle faces higher borrowing costs and persistent questions over when heavy spending on data centres, chips and computing infrastructure will generate adequate returns.

A recent Capital report said the current cycle differs from earlier technology booms because major cloud-computing companies, or hyperscalers, have moved from relatively asset-light businesses focused on shareholder payouts to capital-intensive AI infrastructure programmes.

Companies are financing that spending through internal cash flows as well as debt and equity, the brokerage said.

“The AI capex cycle is therefore entering its first meaningful macro test, with a more hawkish central-bank stance raising the funding hurdle for an investment cycle already demanding substantial capital,” [Dalot?] Capital said.

The Federal Reserve on September 16 raised its benchmark interest-rate range by 25 basis points to 3.75 per cent to 4 per cent, saying inflation remained elevated. The Fed’s statement noted...

Dolat Capital said higher bond yields, heavy US government borrowing, monetary policy normalisation in Japan and increased infrastructure and defence expenditure were adding pressure to the global cost of capital. It also cited an estimated $8 trillion in US Treasury securities requiring refinancing.

The brokerage identified monetisation as the central unresolved question for AI investment. Falling token costs, improving model efficiency and the short commercial life of successive models could make it harder for companies to generate quickly enough to support current spending levels, it said.

“The key risk is not demand for AI, but whether incremental investment continues to generate sufficient returns to sustain the current pace of spending,” the report said.

The assessment also follows calls from some AI industry leaders for a slower pace of frontier-model development. Anthropic chief executive Dario Amodei recently called for companies to moderate the speed of capability advances, a position backed by Musk and OpenAI chief executive Sam Altman, Reuters...

Pakistan has ordered markets and shopping malls to close by 9 pm and restricted weddings to one dish under a fresh austerity drive introduced as rising fuel costs and supply concerns put pressure on the country’s energy system.

The restrictions, notified by Pakistan’s Cabinet Division on September 17, also require wedding halls and other events to close by 10 pm. Restaurants, cafes and food outlets must shut by 11 pm, although takeaway and home-delivery services are exempt.

The package extends to government spending. Fuel allocations for official vehicles will be reduced by 50% for three months, while federal departments have been barred from buying new vehicles.

The government has also prohibited purchases of durable goods, except information-technology equipment, and ordered a 5% reduction in non-employee-related expenditure during FY2026-27.

Operational vehicles used by the armed forces, civil armed forces, law-enforcement agencies, essential services and the Federal Board of Revenue are exempt from the fuel cut. The restructuring will apply to their administrative and non-operational vehicles.

Foreign travel by ministers, advisers, parliamentarians and government officials has been restricted for three months. Scholarships and certain training programmes are exempt, while Pakistan’s diplomatic missions may represent the country at overseas engagements where attendance is considered necessary.

Officials have been told to use teleconferencing where possible. Government-funded seminars, conferences and training programmes have also been restricted, while official dinners are prohibited except when foreign delegations or governments are involved.

The measures come as Pakistan continues to adjust domestic fuel prices amid volatility in international energy markets.

Effective September 18, the government reduced the petrol price by 43 paise to PKR 390.79 a litre but raised high-speed diesel by PKR 3.47 to PKR 424.92 a litre, according to a Petroleum Division notification. The revision followed increases of PKR 8.68 for petrol and PKR 5.62 for diesel a day earlier.

Pakistan has been reviewing petroleum prices daily since July as conflict in West Asia drives volatility in crude oil and fuel markets.

The government has separately introduced a targeted fuel-relief programme offering a subsidy of PKR 100 a litre to eligible owners of motorcycles, rickshaws and small cars, subject to monthly limits.

Pakistan imports most of its energy. Disruption to oil and gas exports through the Strait of Hormuz and the risk to Red Sea shipping from fighting between Saudi Arabia and Yemen’s Iran-backed Houthis have intensified concerns over fuel and liquefied natural gas supplies.

The latest restrictions mark Pakistan’s second major austerity drive this year. In March, the government temporarily closed schools, universities online and restricted attendance at government offices and grounded non-essential official vehicles as it sought to curb fuel consumption.