Apollo: AI Has Delivered 'Zero Financial Payoff' Outside Tech

Apollo says AI has delivered 'zero financial payoff' outside the tech industry

Apollo Global Management's analysis finds the AI boom is enriching only the Magnificent Seven. Since 2022, revenue per employee at tech firms has climbed from $550,000 to nearly $800,000, while everyone else in the S&P 500 has stayed flat around $550,000 for seven years. Profit margins outside tech remain stuck near 10%. Chief economist Torsten Slok warns that mainstream companies now see token spending as a cost center weighing on margins.