Torsten Slok Shows Us How AI Is Eating the Entire US Economy | Odd Lots

Apollo Global Management's chief economist Torsten Slok is known as the "King of Charts." That's why during our most recent show, at City Winery in New York, we invited him to do a presentation, on stage, for the live audience. In this bonus video-only episode, he dives into how AI has eaten up the entire US economy. His slide deck charts includes information on the massive data center build out, what's driving growth in the US economy, the industrial renaissance kicked off by the CHIPS Act, and AI's effect on GDP. In some ways, the conversation was almost prescient: He predicted that nonfarm payrolls would rise, and indeed, they came in pretty hot last week. Just as important is his investment advice: It used to be conventional wisdom that a diversified portfolio was something like 60% stocks, 40% bonds. But now that AI has shown up in both equity and bonds, he says the new 60/40 is going to be AI vs non-AI. (Source: Bloomberg)