Goldman Sachs Connects Technology Investment to Clients and Operations

Goldman Sachs (NYSE:GS) reported net revenues of $17.2 billion, net earnings of $5.6 billion, and earnings per share of $17.55 for the first quarter of 2026.

These results marked the second highest quarterly performance in the firm’s history. Return on equity reached 19.8% and return on tangible common equity came in at 21.3%, supported by record revenue in Global Banking & Markets and steady inflows in asset and wealth management.

The company also emphasized the role of technology in client engagement and internal operations. Specifically, the firm mentioned increased usage of digital platforms such as Marquee and the Global Investment Research portal, while leadership discussed ongoing work tied to One Goldman Sachs 3.0.

The firm is investing in cloud migration, improving data quality, expanding AI use cases across its business lines, and increasing cybersecurity investment as new model capabilities introduce added infrastructure and cyber risk.

Why It Matters: Goldman Sachs is tying infrastructure investment directly to future performance and security. The firm is prioritizing cloud systems and data quality before expanding AI applications, showing that strong data architecture and modern infrastructure remain necessary for AI adoption. The approach also connects technology spending to productivity and long-term growth while recognizing the potential for advanced AI threats.

• Digital Engagement Gains Momentum: Goldman Sachs reported higher client activity across its digital platforms during the quarter. Monthly users on Marquee and the Global Investment Research portal increased, with the research portal reaching one of its highest daily activity levels. These platforms are becoming an important resource for delivering insights and interacting with clients.

• One Goldman Sachs 3.0 Takes Shape: The firm continues to roll out its One Goldman Sachs 3.0 initiative across multiple work streams. CEO David Solomon said the company is implementing new technologies across the organization to improve efficiency and client service. These efforts support long-term improvements in efficiency and financial performance by connecting different teams through a shared technology and execution model.

• Cloud and Data Come Before AI Scale: The company is also increasing investment in cloud migration and enterprise data systems. CFO Denis Coleman stated that improving the “accuracy, completeness, and timeliness” of data is essential for AI deployment. The firm views these as necessary investments to support future productivity gains and reinforced the need for a strong data infrastructure before expanding AI-driven tools.

• AI as a Growth and Efficiency Engine: Leadership described AI as a driver of growth and efficiency. Solomon said he is “hugely forward-leaning on the power of this technology to accelerate growth and efficiency in Goldman Sachs.” The firm expects AI to increase capacity for investment in key business areas over the next several years. Management also noted that clients are actively evaluating how technology can influence their own strategies, which feeds into demand for Goldman’s services.

• Cybersecurity Investment Expands With AI Adoption: Goldman Sachs said cybersecurity remains a long-standing area of investment, and management described the current focus as an extension of work already underway across the industry. Solomon noted that the firm is working with the U.S. government, model publishers, Anthropic, and its security vendors as new large language models develop stronger capabilities. He also said the firm is supplementing its cyber and infrastructure resilience and increasing investment in response to those changes.

Go Deeper -> Goldman Sachs’ Earnings Report – Marketbeat

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