Making Financial Headlines · Page 10
The AI Boom Has a Well-Paid Financial Service Desk
· New York time
Goldman Sachs, JPMorgan and Morgan Stanley have generated $52 billion in equity trading revenue this year, capturing about 80% of the market described by CNBC amid rising margin lending to hedge funds. The figures concern the banks' equity trading businesses, not ownership of 80% of AI companies. Their strength shows how financial intermediaries can benefit from activity surrounding a technology boom. While everyone debates which application will change the world, the institutions supporting the trading are maintaining a very practical interest in the transactions.
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