Investing.com — Goldman Sachs CEO David Solomon said Tuesday that there is sufficient capital available as major artificial intelligence companies prepare to enter public markets.
Solomon told CNBC’s Leslie Picker that markets currently show more greed than fear as OpenAI, Anthropic and SpaceX prepare for initial public offerings that could value the companies at trillion-dollar levels.
“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 CEO pointed to Alphabet’s stock performance following its announcement of an $80 billion equity raise as evidence that markets remain open to AI-related offerings.
“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.”
Solomon said companies are taking advantage of favorable market conditions to raise capital. Goldman Sachs is involved in several of the planned deals.
“When capital’s available, if you’re capital consumptive and it’s available, take the capital,” Solomon said.
The CEO acknowledged the fundraising wave is unprecedented in size but said record levels of wealth and liquidity support the activity. He added that gains from AI companies could create a cycle as employees and investors redirect profits into taxes and new ventures.
“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.”
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