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Hedge fund demand for leverage drives Wall Street equities revenue to record highs
Surging demand for financing from hedge funds, partly driven by leveraged investments in artificial intelligence, has pushed Wall Street's largest banks to record equities trading revenues in 2026, according to a report by The Daily Upside citing CNBC analysis. The five largest US investment banks generated $67bn in equities revenue during the first nine months of 2026, exceeding last year's full-year record by approximately $7bn. Goldman Sachs, Morgan Stanley and JPMorgan Chase accounted for $52bn of the total, or nearly 80%. Goldman Sachs led the group with more than $19bn in equities revenu