Goldman Sachs Group's equity capital markets revenue reached $666 million in the third quarter ending September 30, a 43% increase from the same period last year, outperforming its four largest equity underwriting competitors in the United States, Bloomberg reported. Morgan Stanley was the only bank to report a year-over-year decline in fee income. Goldman Sachs' performance growth was primarily driven by the company actively leveraging the AI spending boom to raise capital through equity sales.