Goldman Sachs lands roles in $210 billion of AI deals

Goldman Sachs The Goldman Sachs Group, Inc. ↗ 2.01% had a role in three large artificial intelligence financing deals announced on Monday, October 26, which together came to at least $210 billion. The bank co-led Meta Platforms' ↘ 1.88% $95 billion share offering. It was also the sole structuring agent on a $40 billion SpaceX chip financing and was named lead-left bookrunner on Anthropic's initial public offering, Bloomberg reported. Bloomberg said the deals are likely to bring Goldman at least tens of millions of dollars, and possibly hundreds of millions, in fees.news.bloomberglaw.com+1

Three deals in one morning

Anthropic filed publicly to list Class A shares on the Nasdaq ↗ 2.11% under the ticker "ANT." Goldman and Morgan Stanley ↗ 2.23% are named as lead underwriters, and Goldman is listed first, in the lead-left position, according to CNBC. The filing gives no price range or share count. The Wall Street Journal has reported that the offering could raise $100 billion or more, with a listing targeted for the week of November 16, Yahoo Finance noted. Goldman held the same lead-left role in SpaceX's IPO in June, Bloomberg reported via Moneycontrol.cnbc.com+2

Meta plans to raise about $95 billion in stock. It has launched roughly $35 billion in concurrent offerings, made up of $22.5 billion in common stock and $12.5 billion in convertible preferred depositary shares, and plans a $60 billion at-the-market program to follow, MT Newswires reported. Nvidia ↗ 2.39%, AMD Advanced Micro Devices, Inc. ↗ 2.80% and Broadcom ↗ 2.33% have indicated interest in buying up to $5 billion of the stock, Capital Brief reported.fidelity.com+1

SpaceX's deal is a finance lease of about $40 billion with an entity managed by Apollo Global Management ↗ 1.36%. Under it, SpaceX will get GPU pods and equipment for its data centers, with lease schedules starting in the first half of 2027, according to the company's regulatory filing.fidelity.com

How Goldman got here

According to Futu News's account of the Bloomberg report, SpaceX approached Goldman months ago about the chip financing, and funds run by Goldman Sachs Asset Management also invested directly. The same account says Goldman's lead role on Anthropic surprised some people in the market, because Morgan Stanley had led the expansion of Anthropic's revolving credit facility. Goldman earned about $100 million in underwriting fees from the SpaceX IPO. It also advised on Alphabet's ↘ 0.97% stock offering of more than $80 billion, the account added.news.futunn.com

Goldman shares rose 2.1% in late-morning trading on Monday, MT Newswires reported.fidelity.com

Risks of the AI spending boom

The money-raising comes as some investors question how long the AI boom can last. Anthropic's filing shows an $80.7 billion net loss for the first half of the year, most of it from an accounting charge on convertible notes, Capital Brief reported. Elon Musk has warned that hundreds of data center start-ups could collapse in a cash crunch, Yahoo Finance reported. In May, Goldman President John Waldron described the bank's position this way: "We feel we are right at the heart of this investment supercycle," Futu News reported.capitalbrief.com+2