Goldman Sachs CEO: Financing AI companies is "a gold mine" for the financial industry

The rapid development of artificial intelligence is not only a competition among technology companies to seize market share, but also a target for Wall Street giants to get a piece of the pie.

During this week's earnings call, Goldman Sachs CEO David Solomon referred to artificial intelligence as a "potential gold mine" for investment banks.

Solomon pointed out that the deep application of artificial intelligence technology requires significant investments from companies and governments to support the necessary infrastructure and power. He emphasized that in the next 5 to 10 years, this will bring "unprecedented" opportunities to the industry.

Solomon further stated that for investment banks, financing artificial intelligence is not just a matter of capital, but also about creating a vibrant ecosystem in the market.

Solomon's views are not unfounded. Recently, large tech companies such as Google, Microsoft, and innovative enterprises like OpenAI have increased their investments in the field of artificial intelligence, especially in key areas such as chips and data centers.

Demis Hassabis, CEO of Google DeepMind, revealed that Google's investment in artificial intelligence has exceeded $100 billion.

AI is still in its early stages of development, and whether these tech companies' investments will pay off remains unknown. But for Wall Street, regardless of the outcome, they can make money first.

Not only Goldman Sachs has set its sights on the AI industry, but private equity giant Blackstone Group also wants to seize the opportunity in AI and has turned AI business into its most familiar real estate business.

As previously mentioned by Wall Street News, as early as 2021, Blackstone Group spent $10 billion to acquire QTS Real Estate Trust, specializing in acquiring land to build and operate data centers, and then leasing them to tech giants busy fighting each other