Greed Fuels AI Funding
Goldman Sachs CEO David Solomon says investor greed is fueling a significant AI fundraising wave.
Anonymous
Goldman Sachs CEO David Solomon said markets are in a “more greed than fear” phase, arguing that ample liquidity will keep fueling a fundraising wave tied to artificial intelligence. Speaking at the Economic Club of New York, he pointed to big, concrete equity-market signals such as Alphabet’s planned $80 billion follow-on raise and Goldman’s lead roles on major AI- and tech-linked deals, including SpaceX’s impending IPO. Solomon also indicated Goldman is positioned for continued strength as AI-driven underwriting and placement demand rises, while larger companies prepare to go public later this year. Although he acknowledged risks—such as potential inflation pressure and geopolitical tensions—he said recent stock and market behavior suggests investors remain receptive to very large offerings. Overall, he framed the current rally as investors prioritizing scale and profits, with capital readily available for companies seeking funding for data centers, chips, and infrastructure.
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Solomon said Goldman is positioned for another “banner year,” noting it generated $17 billion in profits last year and citing analyst expectations that 2026 will rank behind 2021 as Goldman’s second-highest profit year.
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Goldman’s IPO team has the lead spot on SpaceX’s listing, which is expected to be completed next week and involves 22 other banks; the offering is “widely expected” to fund efforts to accelerate SpaceX’s AI ambitions.
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On the IPO pipeline for AI model makers, Solomon said Goldman is vying for lead roles for Anthropic and OpenAI; Anthropic “filed its confidential IPO paperwork on Monday,” while OpenAI is “reportedly working toward” going public later this year.
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The SpaceX IPO lead role could be especially lucrative: TipRanks reported the deal is expected to be the largest ever and could generate about $500 million in fees for the banks involved.
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While acknowledging risks, Solomon tied inflation pressure to policy outcomes, saying stronger-than-expected inflation could push the Federal Reserve to raise interest rates; TipRanks also cited Goldman President John Waldron saying Goldman has a 29% market share (by value) in the mergers and acquisitions advisory market so far this year, per Bloomberg data.
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