Economist: AI shows zero financial payoff outside tech
The gist
Apollo chief economist Torsten Slok says AI has delivered zero financial payoff to corporate America outside tech.
The AI story now hinges on whether the other 493 S&P firms see gains.
How it unfolded
- Oct 14, 2026CoreWeave shares fell more than 15%, and the yield on $1.25 billion of its bonds due in 2032 briefly touched 15%.
- Oct 23, 2026Goldman Sachs CEO David Solomon told investors 'there's very little that we do where we need frontier models,' after announcing a half a billion dollar AI push.
- Oct 24, 2026Torsten Slok published a Daily Spark note arguing AI has delivered 'zero financial payoff' to corporate America outside of tech.