Only Big Tech profits from AI, Apollo finds

An analysis by Apollo Global Management finds that only the Magnificent Seven tech firms, including Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia, and Tesla, have seen financial gains from AI. Revenue per employee at those firms rose from $550,000 in 2022 to nearly $800,000 in 2026, while the S&P 493 remains flat. Apollo analyst Torsten Slok says mainstream corporate America views AI token spending as a cost burden, not a growth driver, and that AI's inability to replicate human judgment limits its broader economic impact.