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Goldman Sachs‘ CEO, David Solomon, has stated that investors are now in “greed mode”, as markets prepare for a significant fundraising wave from large artificial intelligence firms.
On Tuesday, Solomon told CNBC that there is sufficient capital for the upcoming initial public offerings (IPOs) of OpenAI, Anthropic, and SpaceX. “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 remarks come as investors prepare for a surge in high-profile equity offerings, marking one of the busiest issuance periods in years. Solomon, whose bank, Goldman Sachs, is involved in several of these deals, brushed aside concerns about the market’s capacity to absorb the influx of supply.
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He cited Alphabet‘s strong stock performance after announcing an $80 billion equity raise as a sign that investor appetite for AI remains robust. “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 strong market liquidity and rising wealth can support the massive fundraising wave, while AI profits could fuel further investment in new ventures.
Goldman, Yardeni Back AI Rally
Driven by strong AI-fueled earnings growth, Goldman Sachs raised its year-end S&P 500 target to 8,000 from 7,600, implying about 6% upside. The bank also boosted its earnings forecasts, projecting S&P 500 EPS of $340 in 2026 and $385 in 2027 following an exceptionally strong first-quarter earnings season. According to Goldman, Nvidia Corp. and Micron Technology Inc. are expected to drive about one-third of the S&P 500’s earnings-per-share growth this year.
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Meanwhile, SoftBank Group Corp. CEO Masayoshi Son called the AI revolution the “biggest revolution” in technology and also termed it “50x bigger” than the dot-com boom of the 2000s. Son also said humanoid and industrial robotics powered by physical AI represent the next trillion-dollar business opportunity.
Echoing Solomon, veteran strategist Ed Yardeni said that despite the massive scale of the upcoming IPOs, he has dismissed concerns about the market’s ability to absorb the supply, suggesting that the liquidity in the system is sufficient. “The combined market value of these three companies is widely expected to total $4 trillion to $5 trillion once they go public,” Yardeni wrote. “The capital being raised is around $200 billion.”
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