Apollo sees no AI payoff outside tech yet
Yesterday we talked about bubble talk as Anthropic's IPO gets close. Today there is new fuel for that debate. Apollo, the big investment firm, published a short note titled "No signs of AI payoff outside the tech sector."
It was the top AI story on Hacker News, with 555 points and almost 580 comments. The idea is simple: tech companies are spending and selling AI, but other industries do not yet show clear gains. TechCrunch adds a running "AI graveyard" list. It goes from Apple's repeatedly delayed Siri AI to OpenAI's messy "super app" launch.
This does not mean AI is useless. It means the money goes in much faster than the results come out. The next test is how investors react to Anthropic's IPO.
If AI mostly pays off for the companies selling it, the huge spending is still a bet, not a business. When big bets go wrong, normal workers and savers often pay the bill.
