Apollo’s Slok says US companies now treat AI spending as a cost, not growth
Revenue per worker and profit margins are flat outside the Magnificent Seven, Apollo’s chief economist wrote. Big Tech reports results this week as investors wait for an AI payoff.
Via TNW | Artificial-intelligence
Artificial intelligence has delivered “zero financial payoff” to corporate America outside the tech sector. That is the finding of Torsten Slok, chief economist at Apollo Global Management, in a note on Saturday.
Slok compared the Magnificent Seven, the biggest US tech companies, with the other 493 companies in the S&P 500. Revenue per worker and profit margins are rising for the first group and flat for the second, he wrote. He also found no sign yet of AI lifting productivity…
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