Goldman Sachs and JPMorgan benefit from AI-driven market activity

Goldman Sachs and JPMorgan Chase reported record quarterly revenue as artificial intelligencerelated activity boosted trading and investment banking. The banks said demand linked to data centers, power infrastructure, capital markets and dealmaking helped drive results in the second quarter. Goldman said revenue rose 39% to $20.3 billion, while JPMorgan’s revenue increased 27% to $58 billion. Executives said AI is contributing to heavy market activity, including IPOs, debt issuance, mergers and acquisitions, and larger trading volumes across regions such as Asia. The article says the benefits of the AI boom are spreading beyond chipmakers and software firms. Banks are earning more from advising on AIrelated deals, financing infrastructure and handling the surge in financial transactions, while also using AI internally to improve efficiency.