Goldman’s $210bn day of deals driven by AI financing fever

A trio of mega artificial intelligence financing deals announced Monday morning had one name in common: Goldman Sachs Group.

The Wall Street bank co-led Meta Platforms Inc’s $95 billion share offering, was the sole structuring agent on a $40 billion SpaceX chip financing deal and was named lead-left bookrunner on Anthropic PBC’s blockbuster initial public offering – which is expected to be at least as big as SpaceX’s listing in June.

Those big deals, totalling at least $210 billion, are a boon for Goldman, which is likely to see a windfall worth at least tens – if not hundreds – of millions of dollars for its work.

Goldman’s prominent position on the Anthropic IPO came as a surprise to some, after Morgan Stanley led the expansion of the AI firm’s debt revolver facility.

Goldman’s relationship with Anthropic is led by San Francisco-based bankers Nick Giovanni and Jung Min, who’s also a top banker to Nvidia Corp, a person familiar with the matter said.

A representative for Goldman declined to comment.

Read:
Anthropic results may aid IPO but not AI trade, Analysts say
Anthropic prepares to go public: What pre-IPO exposure means
Anthropic IPO numbers surprise on the upside

Wall Street has been racing to finance the AI frenzy, which includes the surging demand for chips and data centres to provide computing power needed to back the technology. But rising debt and equity pouring into the space, along with cash burn at frontier AI labs, have raised concerns that some of the financing could be unsustainable.

ADVERTISEMENT

CONTINUE READING BELOW

Those mounting signs of concern are showing up in the debt and equity of companies including CoreWeave Inc.

Shares of some neoclouds — companies that provide computing power to firms building and running artificial intelligence models — have slumped in the past month.

While Wall Street banks haven’t detailed the fees directly tied to the AI boom, the rush for capital has helped lift their investment banking units.

The five biggest firms racked up more than $19 billion from underwriting revenue in the first nine months of the year, including a 48% jump in equity capital markets and a 13% rise from debt underwriting.

Goldman has pushed to get in on the boom, including landing a spot as the only bank in a partnership that committed in August to financing $500 billion of AI chips deals for customers of Nvidia.

SpaceX signage in the lobby of the Goldman Sachs headquarters in New York in June. Image: Kena Betancur/Bloomberg

In SpaceX’s deal announced Monday, Elon Musk’s company is buying chips from Nvidia, backed by a lease with Apollo Global Management Inc. Goldman worked as the structuring agent, while funds managed by its asset manager committed money to the deal.

The deal, which is separate from the Nvidia partnership, came together after the bank received a call from SpaceX months ago, according to a separate person familiar with the matter, who also asked not to be named, discussing non-public information.

ADVERTISEMENT:

CONTINUE READING BELOW

In June, Goldman was the lead bookrunner of SpaceX’s record-setting IPO, for which it was paid $100 million in fees after years of relationship building by senior bankers Dan Dees, Kim Posnett, David Ludwig and Susie Scher.

The bank also reaped hundreds of millions of dollars more from incentive fees tied to early investments it helped arrange for its wealthy clients, Bloomberg News reported earlier this month.

Read:
SpaceX shares climb After $100bn insider lockup expires
SpaceX shares briefly slip below IPO price for first time

Goldman was also an advisor to Google parent Alphabet Inc on its more than $80 billion package of equity offerings, one of the largest of all time. Its key bankers on that deal, Posnett and Yasmine Coupal, also drove the Meta deal announced Monday.

Last year, Goldman formed a capital solutions group, led by Pete Lyon and Mahesh Saireddy, to help the bank tap its various businesses – from its asset manager, to its investment bank and even Goldman’s trading operations — as it constructs large financing packages for companies.

“We feel like we sit right in the centre of this investment super cycle,” Goldman President John Waldron said in May.

© 2026 Bloomberg

#Goldmans #210bn #day #deals #driven #financing #fever