News Summary

• Apollo Global Management says that only tech companies are getting a share of the AI pie.
• Since 2022, revenue per employee figures have skyrocketed for tech companies.
• While profit margins soared among tech companies since 2022, they've stagnated at about 10%.
• And across the economy, AI hasn't yet dramatically increased productivity growth as some AI optimists have predicted.
• "The technology has delivered zero financial payoff to corporate America outside of tech," said Torsten Slok, a partner and chief economist at Apollo.