Investment Banker Says Investment Banking Will Be Important For AI Buildout (GS)

From MarketWatch, May 6:

Goldman Sachs CEO David Solomon says AI ‘is something that people are going to have to think very strategically about’
The investment-banking exec expects AI capital-raising around power and energy to fuel data centers

If you think about the amount of capital that’s going to be necessary to implement [AI], the amount of energy and power that’s going to be necessary to implement it, this is something that people are going to have to think very strategically about….So it’s a big opportunity.’ — Goldman Sachs Chief Executive David Solomon on CNBC

Goldman Sachs Group Inc. Chief Executive David Solomon sees ample opportunity for the investment bank to profit from artificial intelligence, both through deal-making as well as in its internal operations.

“[AI] is something that our clients are talking actively about because the changes, the transformation of compute is accelerating at such a pace,” Solomon said Monday in an interview with CNBC at the 2024 Milken Institute Global Conference. 

“The implications on productivity and efficiency in business are going to be enormous,” Solomon said.

The buildout of data centers to fuel AI remains in its early stages, he noted.

Goldman Sachs GS has been using AI in aspects of its business for 20 years, according to Solomon, but the talk about its possibilities has been different this year....

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