Apollo economist says AI benefits remain concentrated among Magnificent Seven tech giants
By
Jason Capul
29d ago· 1 min readenNews
Summary
Torsten Slok, chief economist at Apollo Global Management, argues that the economic benefits of artificial intelligence remain concentrated among the "Magnificent Seven" large-cap tech companies, while the broader U.S. economy and smaller companies have yet to see widespread AI gains. This divide is exacerbated by higher interest rates that disproportionately impact small-cap firms.
Source
bskyApollo economist says AI benefits remain concentrated among Magnificent Seven tech giantsseekingalpha.comKey quotes
· 3 pulledAI benefits are still concentrated in the Magnificent Seven, Apollo says
the broader U.S. economy is still waiting for the benefits of artificial intelligence to spread beyond a small group of dominant technology firms
highlighting a growing divide between large-cap leaders and the rest of corporate
AI gains remain concentrated in the Magnificent Seven as small caps lag amid higher rates, Torsten Slok, chief economist at Apollo Global Management notes. Learn more here.
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