Goldman's Chief U.S. Equity Strategist Looks at Effects of AI Adoption

The effects of artificial intelligence adoption is still narrow, at least as far as they are affecting corporate earnings, according to a note by Goldman Sachs' Ben Snider, chief U.S. equity strategist. S&P 500 EPS growth is tracking a gain of 31% from last year, excluding other income related to some private investment stakes, the note says, adding that AI infrastructure stocks have accounted for roughly half of that EPS growth. Earnings growth for the rest of the market has also been strong and accelerating, with the median S&P 500 company's EPS rising 14% in the second quarter.