331 of 493 S&P 500 companies mentioned artificial intelligence on their Q2 2026 earnings calls, a FactSet analysis shows. Firms that talked about AI posted average share-price gains more than double those that stayed silent on the topic.
A FactSet analysis covering June 15 through September 14 found that 331 of 493 S&P 500 earnings calls referenced artificial intelligence, or 67% of the index's constituents. It marks the third consecutive quarter that AI mentions have exceeded the 65% threshold.
Mentions dwarf historical norms
The five-year average for AI mentions sits at 178 calls, and the ten-year average at 114. At 331 mentions, the current quarter nearly doubles the five-year norm and triples the decade-long average. Still, the count slipped from Q1 2026's 337 mentions, suggesting the raw tally may be leveling off even as the share of companies discussing AI stays elevated.
Sector data shows where the conversation concentrates. Information Technology led with 72 calls mentioning AI, covering 97% of the sector, while Financials followed with 67 mentions, or 91% of the sector. Communication Services reached 90%, rounding out the top three.
The performance gap
Goldman Sachs estimates that AI investments contributed nearly half of S&P 500 earnings-per-share growth in 2026. The bank had previously flagged that around 65% of management teams were referencing AI, a share the latest FactSet data now puts at 67%.
A single thesis, concentrated risk
The dip from 337 to 331 mentions could mark a plateau in how often executives raise the topic. Yet with AI cited as a driver of nearly half of S&P 500 earnings growth, the index's performance is increasingly tied to one technological narrative.
Source: Crypto Briefing
Trading involves risk.
Risk Disclaimer
