Apollo Global Management chief economist Torsten Slok published a note showing that inflation-adjusted revenue per worker and profit margins are rising only among the Magnificent 7 tech giants—Nvidia, Tesla, Amazon, Microsoft, Alphabet, Apple and Meta. The remaining 493 S&P 500 companies show flat revenue per worker and flat margins, with no measurable productivity boost from generative AI, according to Slok's analysis.
techspot.com
· 2026-10-26
SpaceX disclosed a binding commitment for about $40 billion in financing to acquire AI chips and data center hardware, calling it the largest committed GPU financing deal to date. An Apollo-managed entity will purchase the equipment and lease it back to SpaceX for roughly five years, with the deal expected to close by year-end and leases beginning in early 2027 as equipment arrives.
techcrunch.com
· 2026-10-26
Apollo Global Management's chief economist Torsten Slok wrote in a weekend note that revenue per worker and profit margins are rising only for the 'Magnificent Seven' tech giants, while remaining flat across the rest of the S&P 500. He concluded there is still no evidence AI is boosting productivity growth or financial results for companies outside the tech industry.
futurism.com
· 2026-10-26
Apollo Global chief economist Torsten Slok reports that excluding the 'Magnificent Seven' tech giants, the S&P 493 shows flat profit margins and revenue per worker, with no measurable productivity gains from AI adoption. He says mainstream corporations are increasingly treating AI token spending as a cost burden rather than a growth driver, even as VC-backed firms keep increasing their AI spend.
slashdot.org
· 2026-10-25
Apollo Global Management chief economist Torsten Slok published a note arguing that AI has produced no measurable financial benefit for large companies outside the tech sector. Analyzing what he calls the 'S&P 493' — the S&P 500 excluding seven major tech firms — Slok found flat profit margins and revenue per worker, with no evidence of productivity gains from AI adoption.
techcrunch.com
· 2026-10-25
Apollo Global Management's chief economist Torsten Slok reported on October 24 that revenue per worker and profit margins are climbing for the Magnificent Seven tech stocks while staying flat across the other 493 S&P 500 companies. Slok said heavy AI investment has produced no measurable productivity gains outside the tech sector, with many firms now treating AI token spending as a cost rather than a growth driver.
tomshardware.com
· 2026-10-25
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