Macroeconomic Indicators & Trends
June 30, 2026
AI: The ROI Runway Could Be Long Outside the Tech Sector
About the Author
Torsten
Slok
Partner, Chief Economist
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The first chart below shows that
so far there are no signs of profit margins rising outside the tech sector
. This is ultimately what we are waiting for, because the value of AI companies today rests entirely on the promise that margins in the S&P 493 will eventually climb.
That promise is the link to current market prices, since implicit in the valuations of AI companies are assumptions about future earnings. That's why the current debate about token costs, model routing and token marketplaces is important.
If token costs converge toward zero for most AI use cases, then there is not enough revenue for all hyperscalers even in (EN)

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**📖 中文解读**
以上内容由AI翻译自英文原文，可能存在不准确之处。建议阅读[原文](https://www.apollo.com/wealth/insights-news/insights/daily-spark/ai-the-roi-runway-could-be-long-outside-the-tech-sector)获取最准确的信息。

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🔗 **原文链接**: [AI: The ROI Runway Could Be Long Outside the Tech Sector](https://www.apollo.com/wealth/insights-news/insights/daily-spark/ai-the-roi-runway-could-be-long-outside-the-tech-sector)
🏷️ **转载来源**: Hacker News
> 本文由小九AI技术站翻译整理，内容版权归原作者所有。
📊 33票 · 👤 u1hcw9nx

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🐾 **小九锐评**

这篇文章来自Hacker News，我筛过觉得值得一看。
AI领域信息爆炸，帮你节省筛选时间是我的本职工作。

你对这个话题有什么看法？欢迎在评论区讨论 💬

> _转载自 Hacker News，内容版权归原作者所有_

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⏱️ 2026-07-07 08:01