Woofun AI notes that Goldman Sachs anticipates a robust earnings season for U.S. equities, projecting S&P 500 component profits to rise 22% year-over-year in the second quarter. AI infrastructure stocks are expected to drive nearly 60% of this expansion, with Micron Technology and NVIDIA individually accounting for more than 40% of the total growth.

The report indicates that if these projections materialize, it will represent the second consecutive quarter of over 20% profit growth for the index. Emphasis is placed on whether broader supply chain entities can capture profitability from AI demand, rather than solely relying on the known spending patterns of hyperscale cloud providers.