Apollo Global Management chief economist Torsten Slok said AI has brought zero money payoff to corporate America outside tech so far. TechCrunch and the Indian Express reported the claim. They cited his Daily Spark note. Slok looks at what he calls the S&P 493. That is the S&P 500 minus Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia, and Tesla. He finds profit margins and revenue per worker look flat.

"Despite massive investments and widespread hype around artificial intelligence, the technology has delivered zero financial payoff to corporate America outside of tech," Slok said, according to TechCrunch. Apollo's own Daily Spark page uses the same "no signs of AI payoff outside the tech sector" line. The Indian Express summed up the same point for readers outside the US tech press.

The claim lands as firms still spend heavily on AI tools. Investors still argue over whether the boom reaches the wider economy. Slok is not saying tech giants have seen nothing. He is saying the rest of the index shows no clear lift yet in his cut of the data.

Boards outside tech may slow big AI budgets if the S&P 493 stays flat. Vendors will argue the payoff lags spending by years. Slok's note does not say when the gap might close. It only says the payoff is not visible yet in his measures for non-tech giants. That warning matters for earnings season talk.

More detail may arrive from officials, clubs, or courts after the first-day reports. NewsHabit will refresh the card if a counted outlet changes a key figure or a named party answers on the record. Until then, treat early tallies and on-air claims as provisional.

What we know: Slok says AI has shown no clear money payoff outside tech, using an S&P 493 frame.
What we don't: Whether later quarters will show a lagging payoff, and how Apollo defines the productivity measures in the note.