Goldman Sachs slides on AI disruption fears
ReutersFeb 4, 2026 7:13 PM
Shares of investment bank Goldman Sachs GS.N fall 4.03% to $901.54
Analyst Brian Mulberry of Zacks Investment Management says GS pressure reflects two sentiment-driven fears: AI weighing on software valuations (GS software basket –6%)
And concerns that legal/finance AI tools, e.g. Anthropic's Legal plugin, could disrupt advisory-heavy businesses like banking and tax
Adds this appears to be a rotation on perception rather than fundamentals, with no clear evidence of long-term earnings destruction for Goldman at this stage
Including session's move, GS up 42% in the last 12 months
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