Goldman Sachs CEO David Solomon indicated in a Monday interview that the market for financing artificial intelligence infrastructure has retained strength amid recent investor concerns about valuations and returns. Solomon characterized his firm as highly engaged in AI-related capital markets transactions in recent weeks, with expectations for continued activity in this space.
The CEO acknowledged that multiple factors, including shifts in the political environment, may cause temporary fluctuations in the sector. He maintained confidence in artificial intelligence’s long-term capacity to enhance productivity across the economy, despite current market uncertainty. Solomon noted that changes in sentiment reflect investors reassessing the potential returns from the hundreds of billions of dollars being directed into AI infrastructure development.
Recent weeks have seen significant declines in stocks of companies involved in AI, including semiconductor manufacturers and cloud service providers. The downturn accelerated following Democratic victories in elections, which raised questions about whether political developments could impede industry growth. Goldman is participating in the underwriting process for an anticipated initial public offering by AI company Anthropic, which represents a significant test of public market appetite for artificial intelligence businesses.
Solomon described the current market environment as constructive while declining to provide detailed commentary on the pending IPO. He also addressed concerns about data center construction by emphasizing that such infrastructure remains critical to the U.S. economy and can be developed responsibly. Solomon expressed concern that regulatory or political opposition could push such development outside the United States, where demand for computing capacity continues to exist.
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