Goldman's David Solomon on AI environment: In a moment where there's more greed than there is fear

And yesterday, Alphabet announced plans for an $80 billion equity raise. This is all kind of coming out around the same time. I know you can't talk specific deals that are currently ongoing, but I just wonder how you're thinking about the impact of the supply of equity funding this build out all around the same time. Well, global equity markets are about, these are rough numbers, don't hold me to them exactly. Global equity markets are roughly 150 trillion US equity markets or 100 trillion, US money market funds are about 8 trillion. There's enough capital. There's enough capital for what we're talking about at this flow in this point. And well, I'm not going to talk specifically about any of the deals. I just make an observation that any of you can make by looking at the screen today as Alphabet is going through the process of raising this $80 billion that we are in the middle of it, the stock is trading quite well. Okay, this is the largest equity deal, largest follow on equity deal that's ever been done. The stock's trading quite well. At least when I looked as I pulled in here, the stock was down about 2% might be bouncing around. But the stock's trading very well. This is the first actual concrete data point for bringing something of this scale, and it's encouraging, okay? And so I think there's plenty of liquidity in the system if the world continues to remain as optimistic. And I do think we're in a period, and I know when I say this, so I'm pausing for a second to say it, but I know when I say it, it will get quoted. But I think it's definitely true and something for us to reflect on. We are definitely in a moment where there's more greed than there is fear, okay? And that's one of the reasons why people that need this capital are coming to the markets is the capital's available. And so if you're advising companies that need capital, one of the big piece of base advice for 42 years of doing this, when capital's available, if you're capital consumptive and it's available, take the capital, okay, if you know that you're going to need it. And so given the way equity markets are robust, debt markets are robust at the moment, I think you are seeing a lot of activity. And I think you're going to continue to see activity. But I just say in the context, these are unprecedented in terms of the size. There's also unprecedented liquidity and wealth in the markets to absorb some of this. And these things also create a virtual flywheel because you've got a lot of people that have made a lot of money at a bunch of these companies. And they're going to be monetizing and reinvesting that into the system, into other things, and paying taxes, by the way, on those gains. And so there is a virtuous ecosystem in the context of this too, that should support it. But it is unprecedented, we'll see how it goes. But I'm encouraged by what I see so far. But that doesn't mean that something couldn't change that creates more volatility around this, just given the size of the scale, the amount of capital.