Goldman Sachs: Bank Discipline 'Imperative' in Times of AI Exuberance
Goldman Sachs chief financial officer Dennis Coleman warned about AI market highs as the US bank enjoys handsome profits.
Taking a step back, there is no question that there is a fair amount of investor exuberance at the moment. While I feel good about the forward outlook on balance, the market operates in cycles and disciplined risk management is imperative.
Goldman reported net revenues of $15.18bn and net earnings of $4.10bn for the third quarter ended September 30. Net revenues in global banking and markets were $10.
Coleman noted that history shows a divergence between companies that thrive and others that fail after a boom driven by new technologies, making bank discipline especially important.
Author's summary: Goldman Sachs CFO warns of AI-driven market risks.
- Net revenues: $15.18bn
- Net earnings: $4.10bn