Goldman Sachs is set to acquire venture capital firm Industry Ventures for $665 million in cash and equity, with potential additional payments based on future performance. The acquisition aims to enhance Goldman’s alternatives investment platform and provide better investment opportunities for clients in the tech sector. The deal is expected to close in early 2026, with all of Industry Ventures' employees joining Goldman.

Goldman Sachs is testing an autonomous AI software engineer named Devin from the startup Cognition, marking a significant advancement in AI adoption within the corporate sector. This program is expected to enhance productivity by performing complex engineering tasks, potentially leading to a hybrid workforce model where humans and AI collaborate closely. Concerns about job cuts in the banking sector are rising as AI technology continues to evolve and take on more responsibilities.