The Business Times
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THE BOTTOM LINE

Bank bosses are too optimistic about the AI boom

Credit and equity markets are still priced for something close to perfection from the current capex explosion

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    • Goldman Sachs CEO David Solomon says that while May or June was a top-decile environment for bankers, today is still a top-quartile environment.
    • Goldman Sachs CEO David Solomon says that while May or June was a top-decile environment for bankers, today is still a top-quartile environment. PHOTO: REUTERS

    Paul J Davies

    Published Wed, Oct 14, 2026 · 05:02 PM

    THE artificial intelligence boom is wobbling, even if the bosses of big US banks do not see it.

    Chipmakers’ stock prices have dropped in recent days, and there were signs of a hiccup in the third-quarter earnings of Goldman Sachs, JPMorgan Chase and others on Tuesday (Oct 13).

    Top executives acknowledged a slowing in trading activity and investment banking fees after an extremely active second quarter, but still said that demand for capital to fund AI infrastructure was insatiable.

    US bankingGoldman SachsJP MorganCitigroupWells Fargo & Co

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