Science & Tech · AI · 1 hr ago
Goldman Sachs commits $500 million to AI support for small businesses
Goldman Sachs CEO David Solomon announced a $500 million commitment to support small-business AI use in New York.
The money will fund the next phase of the bank’s 10,000 Small Businesses program, which provides education, access to capital and support services.
Solomon said most businesses do not need the most advanced AI models to use the technology in their daily work.
A Goldman survey found that 86% of business owners already use AI, but only 15% have fully integrated it into core operations.
The survey also found that 77% want more training and resources, while most spend less than $100 a month on AI.
Anthropic, Google, Meta and OpenAI will contribute training, tools and workshops through the new Small Business AI Institute.
Solomon advised owners to focus on whether AI improves productivity and pays for itself, rather than rushing to adopt it.
Goldman Sachs committed $500 million to support the next phase of its 10,000 Small Businesses program, including an institute focused on artificial intelligence.
CEO David Solomon said most small businesses do not need the most advanced AI models and should focus on practical tools and returns on investment.
Anthropic, Google, Meta and OpenAI will contribute educational resources, training, tools or workshops.
A Goldman-backed survey found that 86% of respondents already use AI in their businesses, but only 15% said it was fully integrated into core operations.
The survey also found that 77% of respondents said they needed more training and resources.
- Who
- Goldman Sachs, led by CEO David Solomon, and its partners Anthropic, Google, Meta and OpenAI.
- What
- Goldman committed $500 million to support the next phase of its 10,000 Small Businesses program, including a new Small Business AI Institute.
- When
- The announcement was made on a Thursday; the article was published on October 24, 2026.
- Where
- At Goldman Sachs’ headquarters in Manhattan, New York.
- Why
- To support small businesses with AI education, tools and other resources as part of the program’s next phase.
This story does not have two clearly opposing sides.
Goldman Sachs launched its 10,000 Small Businesses program.
The share of surveyed business owners using AI was 56%.
Babson College conducted the survey cited in Goldman’s report.
Goldman Sachs announced its $500 million commitment and launched the Small Business AI Institute.
- New commitment
- $500 million
- Program
- 10,000 Small Businesses
- Program graduates
- Nearly 20,000 entrepreneurs since 2010
- US small businesses
- 99% of US businesses
- AI use among survey respondents
- 86%
- AI fully integrated into core operations
- 15%
What people are saying
The important thing is to get it right, not do it faster.
I don’t think you need to look at the world and say: ‘I need to be the best at this, I need to master this in the next three weeks.’