GS · News · 20261021N

Competition and Market Share

GOLDMAN SACHS GROUP INC · 2026-10-21 · Importance 26 · Surprise 24

Goldman Sachs, JPMorgan Chase and Morgan Stanley are described as the dominant competitors in the AI-driven equities-trading market. The three banks captured nearly 80% of the roughly $67 billion generated by the five largest investment banks through September 30. Analysts characterized the Big Three as each other’s primary competitors and said they were best positioned to capitalize on the AI mega-trade.

Key facts

• Goldman Sachs, JPMorgan and Morgan Stanley have made a combined $52 billion in stock trading revenue so far this year, nearly 80% of the total equities revenue reported for the group. source
• The Goldman Sachs Group, Inc. crossed a reportable threshold on October 15, 2026 in a WpHG voting rights notification related to Adtran Holdings, Inc. source
• Goldman Sachs' 13F filing earlier this year showed it added to Micron and Amazon in the second quarter. source