Goldman Sachs Chief Sees Sustained Appetite for AI Deals Despite Market Turmoil

Wall Street’s appetite for artificial intelligence deals remains resilient even as investors grapple with recent market volatility and shifting political dynamics. Goldman Sachs CEO David Solomon stated Monday that capital markets activity in the sector continues at a brisk pace, brushing off concerns that a pullback in technology equities marks a structural decline in demand.

Speaking to CNBC’s Leslie Picker, Solomon confirmed that Goldman Sachs has been “very active” in AI capital markets deals over recent weeks, adding that he expects that momentum to persist. “There’s still very strong demand for investments in the AI infrastructure build and the technology around the growth of AI,” he said, noting that while political shifts cause short-term fluctuations, he retains deep confidence in the long-term ability of AI to drive economic productivity.

Market Selloff and Political Headwinds

Solomon’s comments arrive during a turbulent stretch for technology equities. Shares of semiconductor makers and neocloud providers have fallen sharply in recent weeks, driven by growing investor skepticism over whether hundreds of billions of dollars dedicated to AI infrastructure will deliver expected financial returns.

That selloff began ahead of the U.S. Midterm elections and accelerated after Democrats secured broad victories on Tuesday. The election results fueled industry anxieties that political friction might delay regulatory approvals or slow down physical expansions.

Addressing pushback against domestic data center development, Solomon argued that constructing these facilities is vital for national economic strength and can be executed responsibly. Capital will inevitably flow wherever compute power is needed, he warned, cautioning that opposing local builds risks driving the infrastructure overseas.

High Stakes for Upcoming Public Debut

The changing market backdrop comes at a critical juncture for AI model lab Anthropic, which is laying the groundwork for a potential initial public offering. Goldman Sachs is among the investment banks leading the deal, which is widely viewed as a bellwether for public market demand for artificial intelligence firms.

While declining to offer specific details about the offering, Solomon expressed optimism about the broader environment for new listings. “We’ll see, obviously, if this IPO moves forward, how it all plays out,” Solomon noted, describing the current market backdrop as still “pretty constructive.”