US corporate profits surged to an annualized $4.42 trillion in the first quarter of 2026, up from $4.35 trillion in the prior quarter, according to Commerce Department data. After-tax profits now represent 12.4% of GDP, the highest since the second quarter of 2021 and the second-highest reading since 1947. Measured against gross domestic income, the ratio reached 12.2%, the highest since the early 1950s. The boom is fueled by AI-driven data center spending and improved efficiency, with Micron reporting $28.24 billion in quarterly net income. The widening gap between profits and wages has drawn criticism from both President Trump and Senator Bernie Sanders.
Micron Technology IncAI-driven data center spending boosts Micron's product demand.
Apple Inc.