Wall Street banks are on track for record trading revenue, driven by AI investing, dealmaking and active markets rather than crisis conditions. While profits remain strong, analysts caution that crowded AI trades, rising volatility and inflation risks could challenge markets later in 2026.

Uptick based on boom in equities trading businesses

The four biggest US banks reported a collective 61.6 billion quarterly profit, on the back of a boom in their equities trading businesses.

Investment banks have reaped strong fees from AI-related deals, including SK Hynix's $26.5 billion ADR offering and SpaceX's record $86 billion initial public offering, as well…

Jamie Dimon, pictured, has seen revenues surge amid volatility stemming from the Iran war, the mixed outlook for the global economy and the AI frenzy.

Highs are being smashed at Goldman Sachs and JPMorgan as the AI boom powers feverish market activity. But is this as good as it gets? Jamie Dimon is fretting.

Goldman booked a record $3.4bn in investment banking fees, up 55%. Its CEO calls it an AI capex super cycle. JPMorgan’s CFO is passing on data centre deals.

Wall Street banks are on track for record trading revenue, driven by AI investing, dealmaking and active markets rather than crisis conditions. While profits remain strong,…