Goldman Sachs Group Inc (NYSE:GS) posted upbeat earnings for the second quarter on Tuesday.
The firm reported earnings of $20.98 per share, well above the analyst consensus estimate of $14.40.
Net revenue increased 39% year over year to $20.34 billion, beating the consensus estimate of $16.13 billion, driven by strength in its Global Banking & Markets business.
Goldman Sachs CEO David Solomon said the AI investment cycle is driving capital demand beyond core technology into infrastructure, energy, and data centers.
He said the artificial intelligence investment cycle remains in its early stages despite helping drive the bank’s record second-quarter results.
