Goldman Sachs: AI investment will dominate S&P 500 Q2 earnings report, investors focus on investment return rate

Goldman Sachs strategist Ben Snider predicts that AI investment will dominate the S&P 500 Q2 earnings season, with S&P 500 component stocks experiencing a year-on-year profit growth of approximately 22%. Among them, Nvidia and Micron contributed approximately 40% of the profit increase, while AI infrastructure related stocks contributed nearly 60%. Investors are shifting their focus from capital expenditures of cloud vendors such as Microsoft, Amazon, Alphabet, Meta, to AI investment returns.