Artificial intelligence has been a focus topic for the market for the past few years. Given the heightened interest, did more S&P 500 companies than normal comment on “AI” during their earnings conference calls for the second quarter?
The answer is yes. FactSet searched for the term “AI” in the conference call transcripts of all the S&P 500 companies that conducted earnings conference calls from June 15 through September 14.
Overall, the term “AI” was cited on 331 earnings calls conducted by S&P 500 companies during this period. This number is well above the 5-year average of 178 and the 10-year average of 114. This number reflects 67% (331 out of 493) of the earnings calls conducted by S&P 500 companies during this period.
This marks the 3rd consecutive quarter that the term “AI” was cited on more than 65% of the earnings calls conducted by S&P 500 companies.
At the sector level, the Information Technology (72) and Financials (67) sectors have the highest number of earnings calls citing “AI” for Q2, while the Information Technology (97%), Financials (91%), and Communication Services (90%) sectors have the highest percentages of earnings calls citing “AI” for Q2.
S&P 500 companies that have cited “AI” on Q2 earnings calls have also seen a higher average price increase compared to S&P 500 companies that have not cited “AI” on Q2 earnings calls from December 31, 2025, through September 17, 2026 (15.7% vs. 8.1%) and from June 30, 2026, through September 17, 2026 (2.0% vs. -2.2%).
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