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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Chip giant Nvidia has reported record annual revenue of $215.9bn (£159.1bn), despite a wave of investor scepticism about the massive amounts of money being spent on artificial intelligence (AI) technology.