Goldman Sachs launches $500 million AI push for small businesses

The bank's new Small Business AI Institute pairs Wall Street money with Anthropic, Google, Meta, and OpenAI, even as David Solomon plays down the need for frontier models Goldman Sachs is putting $500 million behind a new effort to help US small businesses actually use artificial intelligence. It brought four of the biggest names in AI along for the launch. Then CEO David Solomon told the audience that most of the economy doesn’t need the most powerful models those companies build. The bank unveiled its Small Business AI Institute on Thursday, October 22, 2026. The event took place at Goldman’s headquarters in lower Manhattan, and Fortune was in attendance. The institute carries a $500 million commitment. It is designed to strengthen 10,000 Small Businesses, the bank’s long-running entrepreneur program.

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