Goldman Sachs Identifies 20 Stocks Poised for AI Gains

Strategists at Goldman Sachs have identified 20 companies within the Russell 1000 most likely to benefit from AI-driven productivity gains. Led by chief U.S. equity strategist Ben Snider, the team utilized a screening process that analyzes labor intensity—labor costs as a percentage of sales—and AI sensitivity, which measures the share of a company's wage bill exposed to automation.

The resulting list includes CoStar Group, Dollar Tree, and eBay, with the highest potential concentrated in the software, professional services, finance, and biotech sectors. The bank utilized occupation-level data from Revelio Labs to calculate these exposure levels.

While AI infrastructure stocks drove approximately half of the 31% earnings-per-share growth for the second quarter, the broader impact of AI adoption on corporate earnings remains narrow. Currently, only 2% of S&P 500 companies have quantified how AI productivity affects their earnings. Goldman Sachs expects this impact to become clearer in coming quarters as enterprise AI spending accelerates.