Fed's Goolsbee Warns AI Data-Center Buildout May Be Overheating US Economy as Chip Stocks Shed $1T

Chicago Fed President Austan Goolsbee said rising costs tied to data centers, semiconductors and related inputs show 'aggregate overheating' from the AI infrastructure buildout, citing stickier-than-expected inflation. His warning landed as the Philadelphia Semiconductor Index extended losses toward a $1T market-cap drawdown and Oracle, Dell and Marvell each shed 8–11% on October 14.