Morgan Stanley's Q2 equity trading revenue surged 69% to a record $6.3bn, with EPS beating estimates by 18%. The AI investment boom is morphing into a capital formation supercycle — Wall Street banks are quietly emerging as the invisible winners of the AI feast, clipping underwriting fees on every tech financing, M&amp;A deal, and IPO, while raking in trading revenue through every bout of market volatility.

<p>Morgan Stanley's Q2 equity trading revenue surged 69% to a record $6.3bn, with EPS beating estimates by 18%. The AI investment boom is morphing into a capital formation supercycle — Wall Street banks are quietly emerging as the invisible winners of the AI feast, clipping underwriting fees on every tech financing, M&amp;A deal, and IPO, while raking in trading revenue through every bout of market volatility.</p>

AI Funding Frenzy: Are Wall Street Giants the Biggest Winners?

<p>I buy bank stocks for stability. This year's stress tests have been passed, and there should be room for increased buybacks and dividends. This part is the most tangible, real money.</p>