Companies in the S&P 500 recorded a remarkable 52% year-on-year increase in aggregate earnings during the second quarter of 2026, according to Reuters.
The technology sector was one of the biggest contributors, with profits rising about 74%, helped by companies benefiting from the rapid expansion of artificial intelligence.

Major companies such as Alphabet and Amazon benefited from gains in the value of their investments in AI businesses.

However, even when those investment gains are excluded, S&P 500 earnings still increased by about 33%, making it the strongest quarterly improvement since 2021.

The figures demonstrate how artificial intelligence is increasingly affecting corporate finances beyond companies that directly manufacture AI chips or develop AI models.

Businesses investing in the technology are seeing changes in productivity, cloud demand, advertising and other revenue streams.

The energy sector also performed strongly, with earnings rising about 143% during the quarter. This demonstrates that the current corporate earnings strength is not limited entirely to technology companies.

However, analysts remain cautious about the sustainability of the AI-driven boom.

The enormous amounts being spent on data centres and computing infrastructure have increased concerns about whether future profits will be large enough to justify current valuations and investment levels.

For investors, the second-quarter results provide evidence that corporate America remains profitable, but they also reinforce the importance of determining which companies can turn AI spending into long-term business growth.

Source: Reuters