Goldman Sees Steady AI Financing Despite Stock Slide

Goldman Sachs CEO David Solomon says demand for AI infrastructure financing remains strong even as chip and neocloud stocks fall sharply.

Updated on Nov. 9, 2026 in Artificial Intelligence

Goldman Sees Steady AI Financing Despite Stock Slide

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Goldman Sachs CEO David Solomon said demand for AI infrastructure financing remains strong, even as chipmaker and neocloud provider stocks have slid sharply over the past few weeks. The Nasdaq Composite fell more than 5% last Thursday as the selloff accelerated after Democratic wins in the midterm elections.

Why it matters

The decline reflects investor doubts that AI infrastructure outlays running into the hundreds of billions will pay off, and it shows how political shifts can rattle the AI market. Goldman's expectation that its pace of AI capital-markets transactions will hold signals continued confidence among major banks in the sector.

The Nasdaq Composite fell more than 5% last Thursday, with chipmaker and neocloud provider stocks sliding sharply over recent weeks. AI infrastructure outlays running into the hundreds of billions remain the central question for investors.

The players

David Solomon

David Solomon is the chief executive of Goldman Sachs, one of the largest investment banks in the world, and has been a prominent voice on Wall Street's dealmaking activity.

Goldman Sachs

Goldman Sachs is a major global investment bank that has been highly active in arranging capital-markets transactions tied to artificial intelligence companies.

Anthropic

Anthropic is an AI model lab and developer of the Claude family of AI systems, and it is the subject of a potential IPO being run by several banks.

The details

Solomon said investors had moved into greed mode in June as markets prepared for large AI public offerings, and Goldman is one of several banks running a potential IPO for AI model lab Anthropic. He declined to discuss the Anthropic offering in detail but said AI financing demand remains strong.

June: Solomon said investors had moved into greed mode as markets prepared for large AI public offerings.
Before the U.S. midterm elections: The AI-related stock selloff began.
Last Thursday: The Nasdaq Composite fell more than 5%.
Monday: Solomon told CNBC that AI financing demand remains strong.

The Tech Race

Goldman's continued AI capital-markets activity extends its long-running role as a lead underwriter of major technology offerings, even as investor enthusiasm cools. The divergence between financing demand and falling stock prices places the sector's current pullback in the context of the broader AI infrastructure buildout.

Investors holding AI chip or data center stocks face sharp recent losses, and the uncertainty over whether AI infrastructure spending will pay off could affect retirement and brokerage portfolios. Shifts in the midterm political landscape are also adding volatility that retail investors may need to weigh.

The takeaway

Market swings tied to politics and AI spending doubts can change quickly, so investors should review their exposure to chip and data center holdings rather than react to a single day's losses. Monitoring how major banks continue to finance AI companies can offer a clearer picture of sector confidence.