Goldman Sachs Says AI Spending Boom Is Driving Record Stock Issuance

TLDR

• Goldman Sachs estimates U.S. AI investment will hit nearly $600 billion in 2026, close to 2% of GDP
• U.S. companies raised a record $252 billion in equity in Q2 2026, partly driven by AI financing needs
• AI-related companies accounted for around 40% of U.S. follow-on equity volume this year
• Goldman expects $700 billion in total U.S. corporate equity issuance in 2026, a dollar record
• Share buybacks of $1.4 trillion are expected to more than offset the new stock being issued

Goldman Sachs has released research showing that artificial intelligence spending is reshaping how U.S. companies raise money, but warns that crowding out other investment remains limited for now.

The bank estimates U.S. AI investment will total nearly $600 billion in 2026. That figure equals roughly 2% of U.S. GDP and has made up over 10% of business fixed investment in recent quarters.

AI Driving Record Equity Issuance

U.S. corporations raised $252 billion through IPOs, follow-on offerings, convertible securities, and SPACs in the second quarter of 2026. That beat the previous record of $234 billion set in Q1 2021.

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