Goldman Sachs chief executive David Solomon has said financial markets remain highly receptive to major technology deals as artificial intelligence companies prepare to seek vast sums from investors.
Speaking to CNBC, Solomon said the current mood on Wall Street was being shaped by confidence and abundant liquidity, even as concerns grow over whether markets can absorb several large fundraising efforts within a relatively short period.
“There’s plenty of liquidity in the system if the world continues to remain as optimistic,” Solomon said. “We are definitely in a moment where there’s more greed than there is fear.”
The remarks come as AI companies face rapidly rising costs linked to data centres, advanced semiconductors, energy supplies, and the computing capacity required to train increasingly sophisticated models. Investors are also closely watching the possibility of future stock market listings involving OpenAI, Anthropic, and SpaceX, which could place further pressure on capital markets.
The scale of the spending has prompted debate over whether enthusiasm for AI is running ahead of the sector’s ability to deliver sustainable returns. Technology groups are investing heavily to secure an early advantage, while shareholders are weighing the potential rewards against the risk that some projects may take years to generate profits.
Solomon said recent market activity suggested that investors were still prepared to support large transactions. He cited Alphabet’s performance after the Google parent announced plans for an $80 billion equity raise.
“The stock is trading very well,” Solomon said. “This is the first actual concrete data point for bringing something of this scale, and it’s encouraging.”
He added that companies with significant funding requirements should take advantage of favourable conditions while they remain available. “When capital’s available, if you’re capital consumptive and it’s available, take the capital,” Solomon said.
Although Solomon acknowledged that the current fundraising cycle is unusual in size, he argued that the market’s deep pools of wealth could continue to support demand. Successful AI investments may also generate fresh economic activity as profits are reinvested into new businesses, taxes, and other ventures.
Still, he warned that confidence could reverse sharply.
Greed can “turn into fear very quickly, but that doesn’t mean it will,” Solomon said. “Exuberance can go on for big periods of time. There’s a good chance that we’re earlier in the cycle than later.”