Stock market today: Dow, S&P 500, Nasdaq slide as rising bond yields maintain pressure, tech stocks retreat

In interviews with Bloomberg on Tuesday, JPMorgan’s global chair of investment banking and the co-heads of Goldman Sachs’ international business said the uncertainty around artificial intelligence and the conflict in Iran haven’t done much to dent rosy outlooks on Wall Street.

Even as the war in Iran has stymied global energy markets, Goldman international co-head Kunal Shah said, business hasn’t slowed down.

“Even though our clients don’t have clarity, I think the good thing here is that that hasn’t actually held up activity,” Shah said. Capital deployment has remained steady, Shah and his co-head Anthony Gutman said, with opportunity in the Middle East on the other side of the war.

At the same time, as investment in the AI build-out has surged, companies have begun making the shift from theory to reality, spurring even more investment, JPMorgan’s Kevin Brunner said on Tuesday at a conference hosted by Bloomberg.

“We’ve actually gone from hype to real execution and scaling,” Brunner said, as reported by Bloomberg. “Every company here is very focused on what’s their long-term strategic narrative, and are in the early stages of doing so.”

That enthusiasm is making the M&A dealmaking market hotter, Brunner said, noting that the bank is seeing clients looking for major deals to try to get positioned ahead of the AI boom.