Goldman Sachs Bets Big on AI in New Bellevue Hub

Goldman Sachs is investing heavily in AI and cloud engineering through its new Bellevue, Washington hub. This move is part of the firm's efforts to win wealth management mandates from tech employees, including those expected to benefit from Anthropic's planned IPO.

The addition of AI-focused talent and digital infrastructure will likely support Goldman Sachs' fee-based businesses and long-term client relationships, rather than short-term trading swings.

Analysts project US$72.8b revenue and US$21.4b earnings for Goldman Sachs by 2029, with a yearly revenue growth rate of 2.5%. Some analysts are even more optimistic, predicting US$84.5b in revenue and US$27.5b in earnings.

The question remains whether management can keep net interest costs, compensation, and technology spending in check while supporting capital-light fee businesses intended to reduce earnings volatility over time.