GoKawiilApollo economist: AI revenue gains confined to Magnificent 7, not broader S&P 500
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.