So, Nvidia and Nebius enjoy a close partnership. That's expected to be beneficial for the latter, since the AI chip giant is busy rolling out AI infrastructure around the globe. Importantly, Nebius' results make it clear that it is quickly making its presence felt in the fast-growing cloud AI infrastructure-as-a-service market.

But it was the increase in investment banking where the gains for Goldman and its rival JPMorgan Chase were particularly striking. Investment banking has been suffering a prolonged slump, as higher interest rates have discouraged private equity firms from selling portfolio companies at depressed valuations and volatility in the equity markets has made it difficult to launch initial public offerings.

JPMorgan and Citigroup on Tuesday reported higher revenue from trading and investment banking.