The AI boom is happening at seven companies, the rest of the S&P 500 isn't seeing it
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Def. Not A Bubble: Torsten Slok, chief economist at Apollo Global Management, recently shared a scathing note on the true extent of the so-called "AI revolution." The data suggest AI's macroeconomic impact remains very limited, which could mean we are heading toward some truly interesting times in terms of financial trends and global economic outcomes.
According to Slok's Daily Spark note, AI has so far delivered zero financial payoff to corporate America outside of tech, despite the massive amount of money and hype surrounding the latest advancements in large language model research.
A few tech-related corporations are seeing noticeable returns, but the overwhelming majority of companies in the S&P 500 are seeing little to show for their generative AI or LLM efforts.
Slok said inflation-adjusted revenue per workeris rising only for the...
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