Goldman, JPMorgan Post Record Revenue as AI Boom Lifts Trading by Up to 86%
Updated
Updated · CNBC · Jul 14
Goldman, JPMorgan Post Record Revenue as AI Boom Lifts Trading by Up to 86%
3 articles · Updated · CNBC · Jul 14
Summary
$20.3 billion at Goldman and $58 billion at JPMorgan marked record quarterly revenue, with both banks saying AI-driven market activity fueled the surge.
Equities trading delivered the biggest upside: JPMorgan's revenue jumped 86% to $6 billion and Goldman's rose 72% to $7.42 billion, beating analyst expectations by a combined $4.4 billion.
Investment banking also accelerated as banks advised AI-linked deals and financed data centers, power and infrastructure; Goldman’s fees climbed 55% to $3.4 billion and JPMorgan’s 30% to $3.3 billion.
Goldman CEO David Solomon called the trend an AI capex super cycle that could run three to five years, while Wells Fargo said the boom reached a second-quarter tipping point and lifted Goldman shares 8%.
AI is boosting bank profits, but are tens of thousands of finance jobs quietly being automated into extinction?
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With lawsuits rising over hidden AI risks, which corporate giant will be the next to face a shareholder reckoning?
Goldman Sachs and JPMorgan Post Record Q1 2026 Earnings Amid AI Revolution and IPO Resurgence
Overview
In Q1 2026, JPMorgan Chase showed strong financial health by exceeding analyst expectations, mainly due to a more favorable outlook on loan losses. The bank’s provision for credit losses was $2.5 billion, about half a billion dollars less than expected, signaling the continued health of its borrowers and a strong credit environment. This improvement reflects JPMorgan’s prudent risk management and confidence in both consumer and business credit quality. These results highlight the bank’s ability to adapt to changing market conditions and maintain stability, setting a positive tone for the financial sector’s performance in 2026.