Latest Interviews
Showing 1–15 of 275 transcripts.
Clear all filters- Goldman Sachs17 min
Daniel Nadler on Building an AI-Powered Search Engine for Medicine
Founded by Dr. Daniel Nadler, Open Evidence functions as an AI-powered "MRI of medical knowledge" that aligns physicians with current clinical standards by reducing the 17-year gap between research and practice to mere hours. Backed by Google and formalized partnerships with the New England Journal of Medicine and NCCN, the platform utilizes licensed, full-text data to eliminate information overload and hallucinations inherent in general large language models. This technology currently processes 1.5 million verified queries to standardize care across complex specialties like oncology, with a long-term strategic goal of eliminating medical error as a leading cause of death.
- Goldman Sachs27 min
Why Global Bond Yields Are Surging
Global government bond yields have surged to multi-decade highs due to synchronized pressures from historic fiscal deficits, AI-driven private borrowing, and energy price shocks. In response, major treasuries are shifting issuance strategies toward shorter maturities and executing long-duration buybacks to manage liquidity without reversing the fundamental yield trajectory. Investors are advised to reduce duration exposure amidst inflation risks while monitoring AI CapEx trends and fiscal consolidation signals for potential medium-term market normalization.
- Goldman Sachs21 min
Why AI Spending is Driving Rates Higher
Mark Wilson, Jan Scheffel, George Cole
Global fixed income yields have surged to multi-decade highs driven by persistent fiscal deficits, stubborn inflation, and massive corporate capital expenditure for AI infrastructure. Federal Reserve Chair Jerome Powell signaled a continued hawkish stance, asserting that current monetary policy remains insufficient to curb inflation without further tightening. Analysts warn that while geopolitical instability and upcoming elections in France and the US pose political risks, the structural demand for capital from the AI sector and government borrowing will likely keep long-term yields elevated until productivity gains eventually materialize.
- Goldman Sachs12 min
Chairman and CEO David Solomon Joins CNBC to Discuss His Outlook for the US Economy
Solomon characterizes the current U.S. economic outlook as constructive, driven by resilient consumer spending, an "enormous investment cycle," and anticipated long-term productivity gains from AI adoption despite geopolitical and trade policy headwinds. While acknowledging future fiscal recalibration and potential regulatory shifts, he asserts that credit markets remain stable with strong cash flows and views rising Treasury yields as a reflection of sound economic fundamentals rather than a calamity. Furthermore, capital markets are projected to sustain robust activity through the coming year, though Goldman Sachs notes a strategic hiring shift away from New York to regions like Dallas and Salt Lake City to navigate evolving policy and tax environments.
- Goldman Sachs33 min
The Outlook for Data Center Power Demand as AI Token Use Grows
Brian Singer, Carly Davenport, Allison Nathan, George Lee
Goldman Sachs forecasts a surge in U.S. power demand reaching a 3.5% CAGR through 2030, driven by a 170% rise in global data center consumption that will equal Japan's total electricity usage. This growth is propelled by hyperscaler spending hitting $2.1 trillion by 2029, though projects face critical bottlenecks from skilled labor shortages, interconnect queues, and over 300 local moratoria. Consequently, the sector is increasingly relying on 30 gigawatts of behind-the-meter natural gas generation as a bridge while navigating regulatory uncertainty and community opposition regarding grid stability and environmental impacts.
- Goldman Sachs8 min
What Is the Outlook for Diesel and Gasoline Supplies?
Goldman Sachs analysts observe that global commodity markets have exhibited unexpected resilience against six months of Strait of Hormuz disruptions, driven by supply reallocation and significant demand destruction in China. Despite falling crude inventories, refined product markets remain critically tight due to production cuts in the Persian Gulf, Russia, and China, prompting recommendations for long crack spreads and Asian hydrocarbon positions. Future market balance hinges on a potential El Niño-induced warm winter, which would mitigate European energy competition, while geopolitical uncertainty sustains demand for defensive assets like gold and power sector equities linked to AI growth.
- Goldman Sachs1 min
GoldenTree’s Steven Tananbaum on why disruption moves at different rates
The transition from the dot-com boom of 1999 to the 2000 downturn reveals a pattern where new technological waves generate immediate market uncertainty while delaying full industry disruption for years. This historical trajectory, which took four to five years to impact newspapers and fifteen years to significantly affect television, currently mirrors the evolving instability in the AI sector. Such comparisons highlight how sectors like advertising and cable operators may withstand initial innovation shocks before eventually facing materialized disruptive forces.
- Goldman Sachs1 min
GoldenTree’s Steven Tananbaum on the importance of entry price in distressed investing
In a shrinking market rife with insolvencies, an acquiring firm purchased a directory business generating $800 million in profit at an average entry price of 1.5 times enterprise value, securing high-20s returns through a strategy targeting management teams prioritizing capital return over reinvention. The buyer explicitly rejected a Canadian management team's plea to fund costly reinvention to prevent liquidation, instead executing a transaction designed to stabilize the asset without the proposed reinvestment. This approach allowed the firm to capitalize on a competitive sector while avoiding the liquidation scenarios that had plagued similar entities in the industry.
- Goldman Sachs32 min
Steven Tananbaum: The Evolution of Credit Investing and AI Opportunities
Steven Tananbaum, John Waldron, Steve Tenenbaum
GoldenTree Asset Management founder Steve Tenenbaum outlines current credit market risks driven by AI adoption, noting widened spreads for entities like SpaceX alongside his firm's evolution from post-2008 distress turnaround strategies to targeted 3.0 platform acquisitions. He details the firm's disciplined investment process, which prioritizes specific catalysts and strict asset coverage ratios to navigate complex environments like the 2020 oil services and European bank sectors where the firm generated billions in returns. Looking forward, Tenenbaum identifies dispersion caused by AI disruption as a key driver for new opportunities in private credit, software, and 30-year TIPS while emphasizing the necessity of rigorous process discipline over complex narratives.
- Goldman Sachs23 min
Demond Martin on Purpose, Community, and Giving What You Have
Damon Martin, co-founder of the inclusive capitalism venture Well With All, launched the company to address health disparities after a personal crisis revealed how lack of resources could have led to tragedy for his younger self. Drawing on his 21-year investment career and deep mentorship under Erskine Bowles, Martin now argues that "friends of the good" form the essential foundation for overcoming the epidemic of loneliness described in his new book. He advocates for rejecting the "self-made" myth in favor of building vulnerable, value-driven communities to drive both personal success and societal healing.
- Goldman Sachs1 min
Goldman Sachs' Amanda Lynam on why the debt markets will play a larger role in the AI buildout
Hyperscalers have issued $194 billion in debt this year, with direct supply projections reaching $250 billion by 2026 to offset monetization delays that are pushing debt financing to roughly 33% of capital expenditures. As supply peaks in 2027, converging capital spending and operating cash flows will further elevate debt reliance to 35% of CapEx, signaling a structural shift where debt markets are anticipated to play a significantly larger role in financing future industry investments.
- Goldman Sachs20 min
Can Markets Withstand AI Risks, Fed Hikes, and Oil Shocks?
Tony Pasquariello, Josh Schiffrin, Dominic Wilson
Dominic and Josh analyze how supply shortages in AI infrastructure and geopolitical tensions in the Middle East are creating a complex investment environment driven by oil market friction and Federal Reserve policy shifts. While the S&P 500 remains near record highs, the duo warns that diverging market performance from lived economic reality, combined with intensifying inflation pressures and a move away from central bank guidance, signals potential volatility ahead. Consequently, they highlight a strategic pivot toward the long end of the yield curve and credit markets, suggesting that concentrated asset exposure is prudent as liquidity is expected to thin in the coming months.
- Goldman Sachs19 min
US Midyear Outlook: Geopolitical Shocks, the New Fed Era, and Growth
Recent U.S. economic data reveals unexpectedly resilient job growth and stickier inflation stabilizing near 3%, driven by geopolitical tensions in the Middle East and AI-related price measurement distortions. Goldman Sachs forecasts core PCE inflation to settle around 2.1% with real GDP growth of 2%, prompting expectations that the Federal Reserve will maintain current interest rates through July while shifting its policy stance toward neutralizing inflation regardless of its source. Despite market speculation regarding rate hikes, the primary economic risk remains a potential escalation of the Middle East conflict that could trigger sustained price increases and destabilize financial markets.
- Goldman Sachs12 min
How Earnings, Volatility, and AI Capex Are Affecting US Markets
Amid a high earnings bar and $6 trillion in projected AI infrastructure capital demands, the market faces divergent pressures between rising single-stock volatility and muted index fluctuations. Goldman Sachs addresses these tensions by recommending specific trades that exploit anomalous option pricing, such as single-stock collars and highly leveraged downside protection on the S&P 500. These strategies aim to capitalize on compressed index volatility while preparing investors for imminent catalysts including the July PCE inflation print and the Federal Reserve's upcoming FOMC meeting.
- Goldman Sachs22 min
Strengthening the Navy SEAL Community Amid Geopolitical Shifts
Vanya Kasanof, Keith Davids, Robin King
Rear Admiral Keith Davids and Robin King discussed the strategic evolution of Naval Special Warfare toward maritime dominance and the Navy SEAL Foundation's expanded mission to support operators facing traumatic brain injuries and mental health challenges. The dialogue highlighted how technological democratization now threatens naval forces through low-cost drone warfare, necessitating a shift where special operations lead joint efforts in cyberspace while the Foundation leverages its agile structure to address invisible wounds through active listening. With Goldman Sachs joining their efforts, these leaders aim to deepen community engagement to ensure families remain resilient so that service members can maintain laser focus on their missions.