Apollo Global Management Chief Economist Torsten Sløk stated that despite massive corporate spending, artificial intelligence has yet to deliver tangible returns for U.S. companies outside the technology sector. Sløk noted that while revenue per employee is rising among the "Magnificent Seven" tech giants, this metric remains flat for the other 493 companies in the S&P 500 index. There are currently no signs that AI is driving broader productivity growth or improving profit margins for mainstream businesses. Sløk observed that non-tech firms are scaling back investments and increasingly viewing AI token consumption costs as a burden on profitability rather than a source of growth. This shift comes as earnings season begins, with investors closely monitoring whether corporate AI expenditures yield expected returns. Meta recently announced plans to aggressively increase its capital expenditure on AI, a move that triggered market anxiety, resulting in a drop in its stock price and pushing its credit risk indicators to historic highs.