# AI spending boom lifts tech margins, not others yet: Apollo economist 2026-08-12T00:37:41+00:00 | Business & Economy | Indian Opinion Desk Corroboration: 1 independent outlet Net profit margins for the Mag Seven tech giants have risen to about 25 percent since late 2022, when ChatGPT launched, while margins for the other 493 S&P 500 companies have stayed flat or fallen, according to Apollo chief economist Torsten Sløk. The AI capital expenditure boom is benefiting sellers like Nvidia and hyperscalers, not buyers in healthcare, consumer staples, energy, or materials. Sløk warns that the longer it takes non-tech firms to generate returns on AI investment, the greater the downside risk to the economy and the market, which is heavily concentrated in the AI trade. Investors expect tangible benefits by 2028. ## Coverage - livemint.com Tags: AI spending, investment returns, Magnificent Seven, profit margins, S&P 500, Torsten Sløk Canonical: https://indianopinion.org/ai-spending-boom-lifts-tech-margins-not-others-yet-apollo-economist/ License: Summary and commentary (c) Indian Opinion, reusable with attribution. Facts belong to the linked sources. Cite: https://indianopinion.org/ai-spending-boom-lifts-tech-margins-not-others-yet-apollo-economist/#story-in-brief Review state: restored archive article, accurate at time of publication, not offered to search indexes.