Goldman Sachs CEO David Solomon wants AI infrastructure kept domestic. Speaking to CNBC, Solomon pushed back against political resistance to data centre construction, arguing that the facilities are essential to the US economy and can be built responsibly. He said, “We certainly don’t want this infrastructure going to places outside the US, which is what will naturally happen because the demand for compute is there.”His comments come as investors question whether spending on AI infrastructure will deliver sufficient returns. Solomon, however, said demand for financing remains strong and pointed to AI’s potential to improve productivity. He argued that demand for computing power would continue even if opposition made building facilities in the US more difficult.
Why David Solomon wants data centres built in the US
Data centres house the computing systems used to train and run AI models. Solomon’s warning focused on where that infrastructure would be developed as demand grows. He argued that resistance to construction could push investment outside the country. At the same time, he maintained that the US could develop the infrastructure responsibly.Solomon acknowledged that political changes could affect the industry’s progress. Changes in the political environment are among 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,” Solomon added.
AI financing demand remains strong despite market concerns
Solomon said Goldman Sachs had been “very active” in AI capital markets deals in recent weeks and expected that activity to continue. Such deals help companies raise money from investors to finance their operations and expansion.“There’s still very strong demand for investments in the AI infrastructure build and the technology around the growth of AI,” Solomon told CNBC.His assessment comes amid a selloff in AI-related stocks, including chipmakers and specialised cloud providers. Investors have been reassessing whether the hundreds of billions of dollars being committed to AI infrastructure will produce adequate returns.
What David Solomon said about Anthropic’s potential IPO
The market uncertainty also comes as Anthropic prepares for a potential initial public offering, which would allow public-market investors to buy its shares. Goldman Sachs is among the banks leading that process, according to the supplied CNBC report. However, Solomon declined to discuss the proposed 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.”