Goldman Sachs CEO David Solomon said that there's "some possibility" the company's Apple Card partnership with Apple could end

Goldman Sachs said that its Apple Card partnership with Apple may end before their contract expires in 2030.The Latest Tech News, Delivered to Your Inbox

Goldman Sachs CEO David Solomon signaled the possible early end of the bank's Apple Card partnership due to financial losses and regulatory challenges.

The six-year-long Apple Card partnership between Goldman Sachs and Apple might end sooner than expected. Here's who could take the business.

By Nupur Anand NEW YORK -Apple is in talks with Barclays to replace Goldman Sachs as the tech giant's credit card partner, said two sources familiar with the matter, as the Wall Street giant steps back from its consumer finance ambitions.

Goldman Sachs’ CEO confirmed on a recent earnings call that the institution’s Apple Card partnership could end sooner than planned.

Goldman Sachs partnered with Apple in 2019 to launch the Apple Card. The Apple Card, while innovative in its integration with Apple’s ecosystem, proved a costly for Goldman. Barclays and Synchrony Financial are reportedly the top contenders of replacing Goldman.

Goldman Sachs is making losses due to the Apple Card. But the US bank cannot get out of the contract. But CEO Solomon is not giving up hope.

Just a day after the Goldman Sachs CEO said that his company's deal to service Apple Card customers may end early, two banks are said to be in active discussions to take over.

"There's some possibility" the credit-card partnership between Goldman Sachs (NYSE:GS) and Apple (NASDAQ:AAPL) will conclude before the contract's 2030 expiration date, Goldman CEO David Solomon said during his firm's (NYSE:GS) Q4 earnings call on Wednesday.