Apollo's Chief Economist: AI Has Not Yet Brought Benefits to U.S. Companies Outside of the Tech Industry
2026-10-25 18:27:16
According to CoinMeta, Torsten Slock, the chief economist at Apollo Global Management, stated that despite companies investing substantial funds in the field of artificial intelligence (AI), AI has not yet brought any tangible returns to American businesses outside of the tech industry. He pointed out that while the average income per employee at the seven major tech giants is increasing, this indicator remains stagnant for the other 493 companies in the S&P 500 index. The same pattern is observed in corporate profit margins, with no signs yet indicating that AI is driving productivity growth. Slock noted that mainstream American companies are reducing their investments and beginning to regard AI-related token consumption expenditures as a cost center rather than a source of growth, as these expenses are squeezing profit margins. As the earnings season unfolds, investors are closely monitoring companies' AI spending and whether these investments will yield the expected returns. Last week, Meta was among the first to announce moves related to its tech industry financial reports, stating plans to bet more actively on AI and increase capital expenditure plans. This announcement caused market unease, leading to a decline in the stock price of Meta, and its credit risk indicators also reached record highs.
Source:Jin10 Data
This content is for market information only and does not constitute investment advice.
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