Wall Street aims to pour more money into Big Tech despite the Iran War’s strain on global markets.
Goldman Sachs CEO David Solomon told the Economic Club of New York that he sees “more greed than there is fear” in the markets, the Financial Times (FT) reported Wednesday. Solomon’s remarks come amid sustained inflation and rising gas prices. (RELATED: Jeff Bezos Reportedly Raising Zillions For Manufacturing AI Company That Says It’s Not Replacing Blue Collar Workers)
“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 at a moment where there’s more greed than there is fear,” he reportedly said. “That’s one of the reasons why people that need this capital are coming to the markets. Because the capital’s available.”
Solomon also predicted that the U.S. will have a “very, very productive economy” with low unemployment in the next decade as AI advances, according to FT. Solomon did warn that the markets’ moods “can turn into fear very quickly.”
A Goldman Sachs spokesperson directed the Daily Caller News Foundation to Solomon’s full statement, which can be watched here.
Goldman Sachs Chairman and Chief Executive Officer David M. Solomon testifies before the House Financial Services Committee in 2019. (Mandel Ngan/AFP via Getty Images)
Goldman Sachs previously projected that companies will invest over $500 billion into the global AI industry in 2026. This is despite Pew Research Center’s Sept. 2025 survey estimating that approximately 50% of Americans are more worried than excited about AI’s increased role in everyday life.
AI spending will likely hit $5.3 trillion in fiscal years 2025 through 2030, Goldman Sachs projected on June 3. This is up from their prior projection of $4.5 trillion.
Since the Iran War began in late February 2026, the cost of everyday goods in the U.S. increased by 0.9% in March, and 0.6% in April.
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