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Goldman Sachs CEO Calls Software Sell-Off 'Too Broad'
Wall Street executives urge patience as investor nerves fray over AI disruptions
Published on Feb. 10, 2026
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Goldman Sachs CEO David Solomon said the recent sell-off in software industry stocks was "a little bit too broad," joining other Wall Street voices in downplaying fears over the potential impacts of AI on the investing landscape. Solomon said Goldman's exposure to the software industry is "insignificant" to its overall platform, and he remains bullish on the outlook for dealmaking and M&A in 2026.
Why it matters
The software sell-off and concerns over AI disruption have rattled investors, leading Wall Street executives to try and steady nerves. Solomon's comments reflect an effort to provide reassurance and perspective, as the industry navigates the evolving technological landscape.
The details
Last week, shares of major private money managers like Apollo, Ares, Blackstone, and KKR came under pressure due to their exposure to software companies threatened by AI advancements. Smaller alternative asset players like Blue Owl also faced acute selling pressure, with the CEO criticizing the notion that Fortune 500 companies would simply 'rip out' their software in favor of ChatGPT. At Goldman, Solomon said AI-related disruptions to software businesses are 'something that we're monitoring,' but the bank's exposure is 'insignificant' to its overall platform.
- On Tuesday, February 10, 2026, Goldman Sachs CEO David Solomon spoke at a UBS financial services conference in Key Biscayne, Florida.
The players
David Solomon
The CEO of Goldman Sachs, one of the world's largest investment banks.
Jensen Huang
The CEO of Nvidia, a leading semiconductor company known for its AI and graphics processing technologies.
Marc Lipschultz
The CEO of Blue Owl, a smaller alternative asset management firm.
What they’re saying
“The narrative over the last week has been a little bit too broad. There'll be winners and losers, and, you know, plenty of companies will pivot and do just fine.”
— David Solomon, CEO, Goldman Sachs (UBS financial services conference)
“For those on the call that are thinking Fortune 500 companies are going to take all their software and just rip it out and just say, 'I'll just ask ChatGPT,' that's simply not the way it works. Don't take my word for it again. We're not technologists. Take [Nvidia CEO] Jensen Huang's words for it.”
— Marc Lipschultz, CEO, Blue Owl (Blue Owl earnings call)
What’s next
The judge in the case will decide on Tuesday whether or not to allow Walker Reed Quinn out on bail.
The takeaway
This case highlights growing concerns in the community about repeat offenders released on bail, raising questions about bail reform, public safety on SF streets, and if any special laws to govern autonomous vehicles in residential and commercial areas.
