Goldman Sachs CEO David Solomon stated that fears of widespread job losses due to AI are exaggerated. He explained that AI will transform work by automating routine tasks, allowing workers to focus on more complex and strategic roles. Solomon highlighted that while AI could automate about 25% of work hours in the next decade, it will not lead to equivalent job cuts but rather a shift in job functions. He also noted increased demand in sectors like data center construction and emphasized that AI is changing workforce composition, especially reducing entry-level roles in financial services.
Goldman Sachs reported a strong Q2 with revenues up 39% year-over-year, led by a surge in equities trading (+72%) and equity underwriting (+130%) due to market volatility and an AI-driven IPO boom. Their Asset & Wealth Management division also saw $2...
Goldman Sachs reported robust Q2 FY2026 results, with net earnings growing at an annualized rate of 38%. The firm raised $31 billion in private credit and saw a 130% year-over-year surge in equity underwriting revenues, driven by major deals and IPO ...
Anthropic has launched Ode, a $1.5 billion AI implementation company formed through a joint venture with Blackstone, Hellman & Friedman, Goldman Sachs, and others. Ode builds on the acquisition of Fractional AI, focusing on deploying elite AI enginee...
The FTSE 100 dropped 23 points to 10,506, pressured by mining stocks reacting to China's slower-than-expected 4.3% GDP growth in Q2, its weakest in three years. European markets also declined, while US futures rose, led by tech. PayPal shares surged ...
Morgan Stanley will report its second-quarter earnings before the market opens on Wednesday, with analysts expecting earnings per share of $2.94 and revenue of $19.64 billion. The firm is anticipated to benefit from increased trading and investment b...
