On October 25, Torsten Slok, Chief Economist at Apollo Global Management, pointed out that despite significant corporate investments in artificial intelligence (AI), the technology has yet to deliver tangible returns to U.S. companies outside the tech sector. Slok noted that while per-employee revenue is growing among the seven major tech giants, this metric remains flat for the remaining 493 companies in the S&P 500 index. Corporate profit margins reflect a similar trend, with no current signs that AI is driving productivity gains. Slok stated that mainstream U.S. companies are reducing their investments, viewing AI-related expenditures as costs rather than sources of growth, as these expenses are squeezing profit margins. With earnings season underway, investors are closely monitoring corporate AI spending and return on investment. Last week, Meta led the earnings reports by announcing more aggressive investments in AI and raising its capital expenditure plans. This announcement sparked market concerns, causing Meta's stock price to drop and its credit risk indicators to rise to historic highs.