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artificial intelligenceAI investmentApollo
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Related tickers and likely impact
NVDA
• NeutralNvidia
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Semiconductors |
| Market cap | $5.1T |
| Close on 10/26/2026 | 216.00 |
| Change that session | +2.39% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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According to Apollo Global Management Chief Economist Torsten Slok, AI has delivered 'zero payoff' to corporate America outside technology despite heavy investment. Revenue per worker is rising for the Mag 7 but is flat for the S&P 493, with similar patterns in profit margins and no sign yet of AI lifting productivity growth. Companies are increasingly viewing token spending as a cost that weighs on margins, while concerns grow over debt-financed AI infrastructure, the collapse of Firmus Grid's IPO after investors balked at a $30 billion valuation, and Gartner's estimate that more than $3.5 trillion of AI infrastructure spending could be impaired by 2030. Slok argues the macroeconomic effects of AI will stay limited as long as agentic AI and token spending remain confined to a small part of the economy.
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- Why Micron Technology Stock Rallied Today
Micron shares rose about 4.8% in Wednesday trading, after SK Hynix reported record fiscal 2026 third-quarter revenue of 104.6 trillion won (roughly $78.9 billion), up 328% year over year, and operating profit of 83.3 trillion won (roughly $61.7 billion). SK Hynix said demand is expected to outpace supply through 2030 and its supply is essentially sold out for the next three years, easing fears of falling memory demand from 2028, and announced it would return 100 trillion won to shareholders. The article says Micron, one of the Big Three memory makers, stands to benefit from demand for HBM, DRAM and NAND, and has locked major customers into multi-year, non-cancelable contracts. Micron stock has gained more than 340% over the past year but trades at 13 times earnings, and the author describes that valuation as attractive.
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SK Hynix reported record third-quarter results on Oct. 28, with revenue of 104.62 trillion won ($77.99 billion), up 328% from a year earlier, and operating profit of 83.33 trillion won ($62.12 billion), up 632%. The company said its DRAM and HBM production is effectively sold out through 2029, with memory shortages expected to last through 2030. The article notes HBM uses far more capacity than conventional DRAM, about 300 bits of standard DRAM per 100 bits of HBM3E and nearly 4-to-1 with HBM4E, which could tighten conventional supply and support Micron's pricing. It also cautions that memory is historically cyclical and that Micron's new Idaho capacity and rising competitor output could weaken conditions if demand slows. Micron shares rose nearly 5% that morning and are up more than 200% in 2026.
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