David Solomon argued to CNBC that artificial intelligence facilities are critical to economic growth and can be built responsibly within the country. His comments come amid a broader market selloff where investors are questioning returns on massive tech infrastructure spending. Despite this market skepticism, Goldman Sachs remains heavily engaged in financing these initiatives and is actively preparing for major capital market events like Anthropic's potential initial public offering.
Key points
Persistent global demand for computing capacity means infrastructure will simply relocate…: Persistent global demand for computing capacity means infrastructure will simply relocate abroad if domestic construction faces political roadblocks.
Major financial institutions view long-term economic productivity gains as a justificatio…: Major financial institutions view long-term economic productivity gains as a justification for continued heavy investment in artificial intelligence.
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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.
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The artificial intelligence company is aiming for an initial public offering valuation reaching up to $1.4 trillion when it begins trading on the Nasdaq on November 19. If analyst projections materialize, this debut will more than double the prior listing-day record set by SpaceX and mark one of history's largest single-day retail inflows. This massive demand reflects unprecedented individual investor appetite for frontier artificial intelligence developers.
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