Goldman Sachs, JPMorgan Post Record Quarterly Revenue as AI Boom Drives Equities Trading and M&A on Tuesday

According to CNBC, on Tuesday, Goldman Sachs and JPMorgan Chase posted record quarterly revenue, with AI-driven capital flows and investment activity fueling massive gains in equities trading and investment banking. Goldman's revenue jumped 39% to $20.3 billion, while JPMorgan saw it rise 27% to $58 billion.

JPMorgan CFO Jeremy Barnum told reporters that AI is "everywhere in financial markets," with the banks advising on AI-related deals, financing data centers and power infrastructure, and facilitating surging trading activity globally. Goldman CEO David Solomon said the bank is positioned amid "an AI capex super cycle" creating new financing opportunities across all regions and industries.