‘AI capex super cycle’ lifts Wall Street: Goldman, JPMorgan revenues surge as trading and investment banking soar

Wall Street’s biggest banks are emerging as major beneficiaries of the global artificial intelligence investment wave, as billions of dollars flow into data centres, energy infrastructure, public markets and large corporate transactions.

The impact was visible across the latest quarterly results of Goldman Sachs, JPMorgan Chase and Bank of America. From a surge in equities trading to stronger investment banking fees, the AI investment cycle is creating business for banks across several parts of their operations.