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Apollo economist sees no aggregate AI payoff outside major tech firms
Apollo chief economist Torsten Slok argues that revenue per worker and profit margins have risen for the Magnificent Seven but stayed flat for the other S&P 500 firms, and says the aggregate data show no financial payoff from AI outside large tech companies so far. These comparisons do not isolate AI’s causal effect or prove that every individual business has seen no benefit.
Primary source · Apollo · October 24, 2026
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