Santander and Novartis report first quantifiable AI earnings gains

Investors are watching corporate earnings reports for concrete evidence that massive artificial intelligence investments are translating into financial returns. The Stanford HAI 2026 AI Index report indicates that corporate AI investment reached $581.7 billion in 2025, a 130% increase from the prior year. Hyperscalers including Microsoft, Amazon, Google, and Meta are expected to spend a combined $700 billion on AI infrastructure this year.

Spanish bank Santander was among the first to assign a specific dollar value to these efforts. The company reported on Wednesday that AI initiatives generated 194 million euros, or approximately $216 million, in business value during the first nine months of 2026. Chief Financial Officer José García Cantera stated that the technology is reducing low-value tasks, allowing employees to focus on higher-value work. He noted that this impacts both revenue and costs, marking the first quarter where the bank can directly link positive contributions to AI.

Swiss pharmaceutical company Novartis reported third-quarter core operating income of $6.04 billion, up 10% year-on-year at constant currencies. While the company did not quantify the specific portion of income attributable to AI, Chief Executive Officer Vas Narasimhan told CNBC that this is the first quarter he has seen AI improve the profit and loss statement on a tangible basis. Narasimhan said the company is working with research and development to increase productivity, while already seeing benefits in marketing and sales.

Standard Chartered reported third-quarter operating income growth of 14% at constant currency, excluding notable items. Chief Financial Officer Manus Costello told CNBC that AI is appearing across the business, helping managers drive better customer relationships. He added that the bank is seeing strong operating leverage, with income growing faster than costs because AI tools are improving core processes and enabling efficient scaling.

Not all sectors are reporting scaled benefits yet. Carlsberg Chief Executive Officer Jacob Aarup-Andersen said the company is not yet seeing AI benefits at scale, though the technology has impacted internal processes, cost efficiency, and supply chains. The beer maker reported a 4.9% revenue increase in the third quarter.

Technology firms are also reporting gains from their AI strategies. Meta stated in its October 21 earnings release that AI investments were delivering substantial incremental advertising revenue. The company’s total revenue jumped 26% in the quarter ended September 30. Alphabet reported on Wednesday that Google Cloud revenue more than doubled to nearly $31 billion in the third quarter, despite concerns about AI competition affecting Google Search growth.

These reports coincide with a shift in corporate focus from hype to measurable returns. As earnings season continues, executives from various industries are providing specific metrics on how AI influences their bottom lines. The data suggests that while adoption levels vary by sector, the financial impact is becoming visible in quarterly results.