Goldman Sachs announced on Thursday a $500 million commitment to expand its 10,000 Small Businesses program, headlined by a new Goldman Sachs Small Business AI Institute. The institute is partnering with Anthropic, Google, Meta and OpenAI to give entrepreneurs training and tools to integrate AI into their operations.

The institute will work on three fronts: delivering AI education to small-business owners across the country, publishing research on AI use by small businesses, and supporting AI-enabled expansions of access to capital. The wider commitment aims to deliver education, capital access and support services to another 10,000 businesses.

Nearly 20,000 entrepreneurs across all 50 states and four US territories have completed the program since it launched in 2010. 'Every major technology shift has rewarded the businesses that adapt most quickly,' CEO David Solomon said. 'This commitment makes sure the entrepreneurs who are creating America's jobs can lead in the AI economy.'