Intangibles an increasingly important investment as a % of GDP

Intangible investment (as a share of GDP) surpassed tangible investment (as a share of GDP) for the first time in 2009, and the gap has been widening ever since. World Intangible Investment Highlights 2025, WIPO

Intangible investment grew well over three times faster than tangible investment between 2008–2024.

Software and data make up the fastest growing category of intangible assets.

Among intangible assets, organizational capital (know-how) dominates, making up nearly one-third of total intangible investment in 2022

Interesting to note an increase in tangible investment in certain countries like the US reflecting hardware required for AI.

With OpenAI and Meta investing in hardware to deliver AI as well this might move the needle as well.

What are your observations?