Apollo economist: AI has delivered zero financial payoff to most companies
FROM THE WIRE · FINANCE.YAHOO.COM
AI hasn't benefited the bottom line of any big corporations outside the tech industry, according to a note recently published by the chief economist at Apollo Global Management (the private equity giant that used to own TechCrunch). Apollo's Torsten Slok focuses on what he calls…
Read at the source ↗MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: expected bearishIf AI returns stay limited outside tech, the sustainability of heavy AI spending is questioned.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
- 01According to Apollo, AI has not improved bottom lines of large companies outside tech.
- 02Profit margins and revenue per worker appear flat across the S&P 493.
- 03Chief economist Torsten Slok is skeptical about future revenue growth.
NEWS IMPACT AND MARKET REACTIONChange since the story · reference
NVIDIA Corporation210.96 USDMarket closedtoday -0.59%Negative Microsoft Corporation524.51 USDMarket closedtoday +0.66%Negative Alphabet Inc.320.21 USDMarket closedtoday -1.24%Neutral S&P 5007,623.68Market closedtoday -0.52%Neutral
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets