Goldman Sachs CEO David Solomon on Running a Bank in the Age of AI

Goldman Sachs CEO David Solomon on Running a Bank in the Age of AI – Odd Lots

Market views

Bullish

GS— Goldman Sachs has achieved 65% revenue growth and 140% earnings growth since 2020, with stock crossing $1,000. CEO emphasizes productivity gains from AI implementation and strong positioning in mega IPOs including SpaceX and Anthropic.
GOOGL— Google successfully raised $85-90 billion in largest secondary offering ever, demonstrating strong investor demand at scale. Company is strategically balancing debt and equity for long-term AI infrastructure build-out.
SPACEX— SpaceX IPO represents a mega-cap opportunity with Goldman Sachs as lead underwriter. Company has reached scale where capital needs require public markets access.
ANTHROPIC— Anthropic preparing for IPO with Goldman Sachs and Morgan Stanley as lead underwriters. Part of wave of mega AI IPOs driven by massive capital requirements.
AIMODELS— AI technology creating significant productivity gains and economic growth opportunities. Clean datasets enable extraordinary capabilities, though human judgment and relationships remain critical.
EQUITIES— S&P 500 ex-top 10 trading at 17-20x forward earnings appears attractive given potential for technology-driven productivity gains and faster earnings growth across broader market.

Bearish

TECH— Top 10 S&P companies trading at low 30s forward P/E showing signs of greed and FOMO behavior. Market running narrow with concentration risk, though not at bubble extremes yet.

Not investment advice.