Goldman's Solomon Says Demand to Finance AI Infrastructure Remains Strong Despite Sell-Off

In an interview with CNBC, Solomon said Goldman had been "very active" in AI-related capital markets deals in recent weeks and expected that activity to continue. "There's still very strong demand for investments in the AI infrastructure build and the technology around the growth of AI," he said.

His comments matter because banks like Goldman arrange much of the debt and equity that pays for data centres and chips. That gives them an early view of whether investors will keep funding the build-out while public markets wobble. AI-related stocks have fallen as investors question whether the hundreds of billions of dollars going into AI infrastructure will earn adequate returns. The sell-off began before the US midterm elections and deepened after Democrats won sweeping victories last Tuesday, which raised concern that political opposition could slow the industry's expansion.

Solomon acknowledged that the politics could have an effect. Changes in the political environment are among the factors that will "create recalibrations and ups and downs, and we're seeing some of that," he said. "But I still deeply believe in the long-term trajectory of the power of AI in our economy to drive productivity."

He also pushed back against local and political resistance to data centre construction, arguing that the facilities are essential to the US economy and can be built responsibly. "We certainly don't want this infrastructure going to places outside the U.S., which is what will naturally happen because the demand for compute is there," he said.

The interview comes at a sensitive moment for Goldman's own AI business. The bank is among those leading the process for Anthropic's potential initial public offering, which could be one of the biggest tests yet of public-market appetite for AI companies. Solomon declined to discuss the listing in detail. "We'll see, obviously, if this IPO moves forward, how it all plays out," he said. "I would say that the market environment is still pretty constructive."