Immigration boosts innovation and wages in the US. The positive dynamic impact of immigration on innovation and wages dominates the short-run negative impact of increased labor supply. Increased immigration to the US since 1965 is estimated to have increased innovation and wages by 5%.

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AI has been eating up the world's supply of memory and companies like Micron have even abandoned their consumer brands to focus entirely on B2B supply. Other components like GPUs have also been feeling the pressure.

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