Apollo Global Management reported that AI investments have not generated financial returns outside the technology industry.

What it means

Apollo Global Management's chief economist, Torsten Slok, has published analysis arguing that AI investments have produced zero measurable financial return for companies outside the technology sector — specifically the S&P 493, which excludes the Magnificent Seven tech giants. This contrasts with the widespread hype that AI is driving broad economic transformation, suggesting that so far, only Big Tech itself is seeing a payoff.

Accuracy & sourcesGrounded

The claim is a direct report of Apollo's own published analysis, a named primary source, and is covered by reputable outlets like Bloomberg and Business Insider. It is solid as a statement of Apollo’s viewpoint, but it represents one firm's assessment rather than an independently verified fact.

How new

Genuinely new; the analysis was published on October 24–25, 2026.

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