Zero AI Payoff Outside Tech: Apollo Economist Warns as $680B Buildout Meets Bond-Market Red Flags
Apollo’s chief economist Torsten Slok reports that despite unprecedented investment, AI has delivered “zero financial payoff” to U.S. companies outside Big Tech: S&P 493 profit margins and revenue per worker remain flat. Meanwhile, a $680 billion AI infrastructure buildout is tripping bond-market warning signals, and surging token costs keep squeezing corporate margins. The AI bubble debate has reached a critical moment.





