Goldman Sachs Hosts Internal and Public Discussion on AI's Workplace Impact

Goldman Sachs used its Exchanges podcast presence on Feb. 17, 2026 to surface two distinct conversations about how artificial intelligence is reshaping markets and the firm's operational priorities. The material carries a label of “The New AI Trades” across Goldman’s site and its YouTube channel and includes a July 9, 2025 recording with Rebecca Kruger and a February 11, 2026 recording with Ryan Hammond, both published under the Feb. 17, 2026 posted date on the firm’s platforms.

The Goldman Sachs web entry for a July 9, 2025-recorded episode quotes Rebecca Kruger, a partner in the Natural Resources Group in Goldman Sachs’ investment banking business: “The AI boom is creating unprecedented demand for power. So where will this power come from?” The page links that episode to a Goldman research piece titled “Powering the AI Era” and lists distribution channels including Spotify, Apple and YouTube, along with a “Download Transcript” option.

On the firm’s YouTube channel a video titled “The New AI Trades” carries a February 11, 2026 recorded date in its transcript and features Ryan Hammond, a portfolio strategist in Goldman Sachs Research. Host Allison Nathan frames the conversation with Hammond by noting market moves: “If you look at an index like the S&P 500, you'd think it's been a quiet start to the year for US stocks. But there've been seismic shifts under the surface with software stocks in particular moving dramatically.” Hammond’s partial transcript includes the fragment “A group of software stocks is down about 25” before the excerpt cuts off. The video snapshot shows 3,062 views and the Goldman Sachs channel at 285,000 subscribers.

Separately, external market coverage describes a trading response that aligns with the podcast’s themes. Reporting states Goldman introduced a software pair trade basket structured to go long companies judged “difficult for AI to displace - either because they require physical execution, regulatory entrenchment, or human accountability - while shorting firms whose workflows AI could increasingly automate or replicate internally.” A syndicated piece characterized the move as an “AI-Resilient Trade Basket” that goes long companies the firm believes will benefit from AI and short companies it views as vulnerable.

Goldman’s Exchanges run-up in January and February 2026 provides additional context: an Outlook 2026 episode with Jan Hatzius and Dominic Wilson recorded January 8, an interview with Chairman and CEO David Solomon recorded January 20, and a conversation with Lone Pine Capital co-CIO David Craver recorded January 28. Allison Nathan and George Lee are listed as Exchanges co-hosts across these episodes.

There is a clear metadata discrepancy to reconcile: the Goldman Sachs site links “The New AI Trades” label to a July 9, 2025 recording with Kruger while the YouTube transcript ties that same posted label to a February 11, 2026 recording with Hammond. The composition, constituent list and performance of the described software pair trade basket are not disclosed in the material available on Goldman’s channels, and the Exchanges Apple Podcast entries carry the firm’s standard legal boilerplate that “The opinions and views expressed herein are as of the date of publication, subject to change without notice, and may not necessarily reflect the institutional views of Goldman Sachs or its affiliates.” The recording-date mismatch and the absence of public basket details remain open items for follow-up with Goldman Sachs communications and research.