Are companies in OECD countries not investing too much?

It is sometimes claimed that the weakening of growth in OECD countries is due to insufficient corporate investment. But productive corporate investment (excluding construction) has actually been very high in OECD countries in the recent period. This raises two questions: Why are companies investing so much? (Because their profitability has increased, capital goods prices have fallen, interest rates are very low); Why is this very high level of investment not leading to an upturn in productivity gains? (Because the investments being made are inefficient, the lifespan of capital goods, which includes computers and software, has become shorter?).