According to Goldman Sachs's expectations, the US stock market will usher in another strong profit season. Goldman Sachs expects earnings from S&P 500 components to soar 22% year-on-year in the second quarter. Among them, AI infrastructure-related stocks contributed nearly 60% of the increase, with Micron Technology and Nvidia contributing more than 40% in total. If finally realized, this would be the second consecutive quarter of S&P 500's profit growth of more than 20%. The Goldman Sachs report emphasizes that the current focus of the market is not the performance of the tech giants themselves — after all, the AI spending of hyperscale cloud computing companies is already evident — but rather whether a wider range of companies in the industry chain can achieve profit with AI demand.

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