Goldman Sachs CEO Sounds Alarm: ‘Greed Mode’ Engulfing Markets as AI Companies Prepare for IPOs
Wall Street is currently surfing a wave of investor euphoria. Some of the world’s most valuable artificial intelligence companies are gearing up to go public. Amidst this excitement, Goldman Sachs CEO David Solomon raises a cautionary note, albeit in an optimistic tone.
Addressing the Economic Club of New York on June 2, Solomon stated that markets are unmistakably in “greed mode”. There’s more capital being funneled into AI deals than ever before in recent history. In a conversation with CNBC’s Leslie Picker, he revealed that OpenAI, Anthropic, and SpaceX are all on the brink of initial public offerings. These could potentially reach trillion-dollar valuations. Furthermore, he assured that there is sufficient liquidity to accommodate the supply.
“We are definitely in a moment where there’s more greed than there is fear,” Solomon observed. He emphasized that Alphabet’s record-shattering $80 billion equity raise—the largest follow-on equity offering ever—demonstrates that markets are still welcoming to AI at scale. Goldman Sachs played a crucial role as a private placement agent in that deal and has secured the top underwriting slot for SpaceX’s planned IPO.
Solomon admitted that the current fundraising wave is unparalleled in its magnitude. However, he argued that the record levels of wealth and liquidity pervading the markets could sustain this activity. The bank presently boasts a 29% market share of M&A advisory by value in 2026—its largest lead ever at this point in the year. Solomon did warn that “greed can turn into fear very quickly,” but he remains optimistic that the market cycle is still in its early stages.
Source: CNBC – Goldman CEO says markets are in ‘greed’ mode as AI companies seek billions