There is no evidence that AI has led to revenue growth or margin improvements outside the tech sector.

"The bottom line is that the AI story will be decided in the S&P 493, not the Mag 7, and so far, there is no evidence that revenue growth or margins are improving outside the tech sector." No Signs of AI Payoff Outside the Tech Sector | The Daily Spark https://www.apollo.com/wealth/insights-news/insights/daily-spark/no-signs-of-ai-payoff-outside-the-tech-sector?utm_source=substack&utm_medium=email

"Revenue per worker is rising for the Mag 7 but is flat for the S&P 493… Profit margins are rising for the Mag 7 but are flat for the S&P 493… And there are still no signs of AI boosting productivity growth" https://www.apollo.com/wealth/insights-news/insights/daily-spark/no-signs-of-ai-payoff-outside-the-tech-sector

https://finance.yahoo.com/technology/ai/articles/apollo-slok-says-ai-delivered-092836159.html "(Bloomberg) -- Despite the significant investments ploughed into artificial intelligence it has provided "zero payoff" to corporate America outside of technology, according to Apollo Global Management Inc. Chief Economist Torsten Slok. "Revenue per worker is rising for the Mag 7 but is flat for the S&P 493," he wrote in a note published Saturday. The same is the case for profit margins, while there are no signs yet of AI boosting productivity growth."