Goldman Sachs is "accelerating" cloud investment for better AI, CFO says

Goldman Sachs is doubling down on cleaning up internal data and accelerating its migration to the cloud to better unlock AI productivity drivers.

CFO Denis Coleman said “early learnings” from the One Goldman Sachs 3.0 initiative – a project to overhaul GS's operating model with AI at the centre launched in late 2025 – had “reinforced the need to double down” on foundational infrastructure.

In a Q1 earnings call Monday, he said the firm was "accelerating our investments in cloud migration, and in the accuracy, completeness and timeliness of our data. These investments are critical to optimizing the deployment of AI solutions across the firm.”

Following a 19% year-on-year increase in net earnings, from $4.7 billion in Q1 2025 to $5.6 billion in Q1 2026, the bank’s CEO said the One GS initiative was already making progress, with AI technologies integrated in “six initial work streams”.