IMF: AI a 'slow tsunami' hitting jobs; AI investment supports global economic growth of 3%, Asia benefits greatly

IMF Managing Director Kristalina Georgieva said strong investment in AI infrastructure is keeping global economic growth at around 3%, bringing huge benefits to Asian economies that supply hardware, while heralding a 'slow-moving tsunami' that could hit jobs, taxation and education. US stock indices traded in narrow ranges early in the session. Mainland memory chip maker ChangXin Memory Technologies is set to launch a new generation of DRAM architecture, while Micron Technology (US: MU) fell 4% early in the session.