Highest Number of S&P 500 Earnings Calls Citing “AI” Over the Past 10 Years

Artificial intelligence has been a focus topic for the market for several quarters. Given the heightened interest, have more S&P 500 companies than normal commented on "AI" during their earnings conference calls for the second quarter?

The answer is yes. FactSet Document Search (which allows users to search for key words or phrases across multiple document types) was used to answer this question. Through Document Search, 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 5.

Overall, the term "AI" was cited on 287 earnings calls conducted by S&P 500 companies during this period. This number is well above the 5-year average of 124 and the 10-year average of 79.

In fact, this is the highest number of S&P 500 earnings calls on which "AI" has been cited over the past 10 years (using current index constituents going back in time). The previous record over the past 10 years was 247, which occurred in Q4 2024.

At the sector level, the Information Technology sector has the highest number (65) and percentage (98%) of earnings calls citing "AI" for Q2.

It is interesting to note that there was a 32% quarter-over-quarter increase (287 vs. 218) in the number of S&P 500 earnings calls on which "AI" was cited. At the sector level 10 of the 11 sectors recorded an increase in the number of earnings calls citing "AI" for Q2 compared to Q1, led by the Financials (+19), Industrials (+14), and Consumer Staples (+11) sectors.

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