David Solomon, Chief Executive Officer of Goldman Sachs, told CNBC in a Monday interview that investor demand remains strong for financing the construction of artificial intelligence infrastructure and technologies that support sector growth, despite recent market corrections.
Solomon said Goldman Sachs has been extremely active in AI-related capital markets transactions in recent weeks and expects that activity to continue. He emphasized that while investors have grown more cautious about when the capital-intensive developments will pay off, AI will be a defining long-term driver of economic productivity.
Market corrections and political effects
Market sentiment has noticeably weakened in recent weeks after shares of chipmakers and next-generation cloud providers lost significant value. Investors have begun re-evaluating risks, and many question whether the hundreds of billions of dollars flowing into the sector will deliver the expected returns.
Solomon noted the sell-off began before the U.S. midterm elections and intensified after the Democrats’ decisive victory last Tuesday, as market participants fear political headwinds could slow industry expansion. He added that political shifts naturally produce market corrections and troughs, but they do not alter the technology’s long-term economic role.
Anthropic IPO as a test for public markets
The article points out that the current market uncertainty comes at a critical time for Anthropic, which is preparing for an initial public offering. That IPO will be an important test of how receptive public capital markets are to shares of companies focused on artificial intelligence.
Goldman Sachs’ CEO declined to comment in detail on specific transactions but said the overall market environment remains favorable for the bank.
Data centers: economic and political stakes
Solomon pushed back against political resistance to building data centers. He argued the infrastructure can be developed responsibly and is vital to the United States’ economic competitiveness, since the global demand for computing capacity could otherwise drive investments overseas.
The article notes this piece is not investment advice and that an AI assistant contributed to its preparation, with the final content edited and verified by a journalist.
