The Real Bank Earnings Story Was the AI Spending Boom

The second quarter produced another round of strong earnings from the nation’s largest banks, and executives spent as much time discussing artificial intelligence, digital delivery and technology investment as they did revenue, expenses and capital ratios. JPMorganChase , Bank of America , Citigroup , Goldman Sachs and Wells Fargo each exceeded analysts’ expectations, although they arrived there through different combinations of consumer banking, markets, wealth management, commercial lending an