📅 Oct 25, 2026
Apollo chief economist Torsten Slok says AI has delivered 'zero financial payoff' to corporate America outside tech.
LexxWire
The S&P 493 is the S&P 500 minus its seven mega-cap tech names: Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia and Tesla.
LexxWire
Magnificent 7 profit margins have climbed to nearly 30%, Slok's data shows, while the other 493 companies sit near 10%.
LexxWire
Revenue per worker is about $780,000 at the Magnificent 7, versus about $525,000 for the S&P 493, on an inflation-adjusted basis.
LexxWire
'AI may be a great calculator, but in business, intelligence is mostly judgment,' Slok wrote — and productivity growth shows no clear AI lift yet.
LexxWire
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