Here's the 'core economic flaw' in the AI bull case as stock and bond trades unravel, according to a top economist

Here's the 'core economic flaw' in the AI bull case as stock and bond trades unravel, according to a top economist — Live Feedhttps://www.live-feeds.com/feed/here-s-the-core-economic-flaw-in-the-ai-bull-case-as-stock-and-bond-trades-unravel-according-to-a-top-economistContinuously updated, source-cited coverage. Economist Torsten Slok Warns of Core Economic Flaw in AI Bull Casehttps://www.live-feeds.com/feed/here-s-the-core-economic-flaw-in-the-ai-bull-case-as-stock-and-bond-trades-unravel-according-to-a-top-economisthttps://www.live-feeds.com/feed/here-s-the-core-economic-flaw-in-the-ai-bull-case-as-stock-and-bond-trades-unravel-according-to-a-top-economist#u160091Wed, 28 Oct 2026 12:16:34 +0000Apollo Chief Economist Torsten Slok warns that artificial intelligence investments face a core economic flaw as stock and bond trades unravel. Slok highlights that the AI payoff has been slow to materialize outside the tech sector, resulting in a growing reluctance among firms to pay for AI services. Revenue and margin gains remain heavily concentrated in the Magnificent Seven, while the cost of producing computing power may outstrip returns. Analysts observe that token spending growth has slowed down, suggesting the demand curve for compute is flat and sensitive to price changes.Why it matter