Goldman Sachs has hired Daniel Marcu from Amazon.com as its global head of artificial intelligence engineering and science to help develop and refine artificial intelligence platforms and products, according to a memo seen by Reuters.

Hedge funds were already waiting to see if a U.S.-fostered, home-grown artificial intelligence boom would continue as China's new AI model was emerging to challenge U.S. dominance in the sector, a Goldman Sachs note said.

"In our view this is a correction and not the start of a sustained bear market," Goldman Sachs said. DeepSeek sparked a $1 trillion market rout on Monday.

The ways AI is changing the work of bankers and analysts just got clearer at the Wall Street bank.

Alibaba Group Holding Ltd (NYSE: BABA) is inching up this morning as investors continue to hail its launch of a new AI model that it claims is more powerful than OpenAI as well as DeepSeek. The artificial intelligence assistant the company is calling Qwen 2.

By streamlining the diagnostic process and reducing human error, AI-powered medical imaging can help healthcare professionals make quicker, more accurate decisions, ultimately improving patient outcomes and saving lives.

It used to take two weeks for a team of six bankers to do the same task, Goldman Sachs CEO David Solomon said.

Argenti's broad prediction echoes comments last week in the CES keynote by Nvidia CEO Jensen Huang. Huang said onstage that "in the future, these AI agents are essentially digital workforce that work beside your employees, and do things on your behalf."

Peter Oppenheimer, the chief of global equity strategy and the head of macro research for Goldman Sachs in Europe, opined that the rise of tech stocks due to the AI boom was not

Monday’s trillion-dollar stock-market wipeout will be remembered as an opportunity to scoop up shares of some of the most valuable U.S. companies at a discount, according to a team of equity strategists at Goldman Sachs Group.

DeepSeek’s breakthrough is “a wake up call” that adds to market concentration risks, Oppenheimer and team say: a reminder that benefits from any revolutionary technology don’t automatically accrue to big spenders at the start of the adoption cycle, and that competition humbles even the biggest companies.

Wall Street is mainly focused on Apple's iPhone sales in China and any guidance related to its March quarter, which could include iPhone SE4 sales.