Apollo Says AI Profits Stay With Big Tech

Apollo, the private-equity giant, just revealed that AI's financial windfall is being funneled almost entirely into the Magnificent Seven. Its analysis shows the rest of the S&P 500 sees virtually no benefit from the AI boom. The report says only the seven tech giants-Apple, Microsoft, Alphabet, Amazon, Meta, Nvidia, and Tesla-capture most of the gains. Apollo's findings come amid growing debate over whether AI will democratize profits or deepen the wealth gap. Only firms with the scale and capital to deploy AI profitably are already entrenched in the market. If the trend continues, the rest of the S&P 500 could find itself increasingly sidelined as AI-driven growth accelerates. Apollo's study, released this week, underscores that the tech giants' dominance may grow even as the broader market lags. The data suggest AI's upside could become a zero-sum game between a handful of leaders and rest of corporate world. Apollo's analysis warns that without new entrants, the AI boom may reinforce existing inequalities. It remains to be seen whether policy or innovation will level the playing field.