Buy-side research budgets flatline as AI spending rises 40%

9th October, 2026

Zak Jakubowski
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Global buy-side investment research budgets remained broadly flat in the first half of 2026, increasing by just 0.4% in monetary terms as spending on artificial intelligence tools accelerated, according to research from Substantive Research.

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ABN AMRO
Bank of America
CBOE
Citi
Goldman Sachs
DRW Holdings
HSBC
J.P Morgan
Marex
Morgan Stanley
SGX
SocGen
Susquehanna
MUFG Investor Services
TP ICAP
ABN AMRO
Bank of America
CBOE
Citi
Goldman Sachs
DRW Holdings
HSBC
J.P Morgan
Marex
Morgan Stanley
SGX
SocGen
Susquehanna
MUFG Investor Services
TP ICAP
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