Goldman Sachs Vice Chairman Rob Kaplan says technology companies financing the AI boom need to consider issuing more equity instead of leaning too heavily on debt. Speaking on Bloomberg Surveillance on October 27, 2026, the former Dallas Federal Reserve president discussed the financing demands of major AI investments and the trade-offs between funding growth and taking on leverage.

Bloomberg’s program labels Kaplan’s segment “Tech Funding Needs More Equity, Less Debt.” His assessment is a financial argument, not a newly announced Goldman Sachs transaction or a guarantee that AI companies will sell shares.

Bloomberg Surveillance, October 27: Kaplan’s discussion begins around 1:39:59 in the full broadcast. See also Bloomberg’s official program page.

Why Equity and Debt Matter

Debt lets companies raise money without immediately diluting shareholders, but interest and principal still come due even if a data center takes longer to generate revenue. Equity does not impose the same fixed repayment schedule, although issuing shares can reduce existing owners’ percentage stakes.

That distinction is important as AI developers commit to chips, power infrastructure and cloud capacity years ahead of projected demand. It does not mean every AI borrower is overextended: credit terms, cash flow and collateral differ from company to company.

Anthropic’s Financing Offers a Current Example

The discussion follows a $63 billion financing arrangement involving Broadcom and several financial institutions for equipment to be leased to Anthropic. Broadcom’s official announcement identifies senior and junior financing components, plus residual-value support from Broadcom.

Separately, Anthropic’s IPO filing brings public-market equity into the conversation. Neither development proves Kaplan was advising Anthropic to change a specific transaction. His broader point concerns how capital structures affect resilience when technology spending is large and future returns remain uncertain.

BitcoinVersus.Tech previously examined loans and insurance tied to NVIDIA GPUs and guarantees supporting AI infrastructure financing. Those arrangements can unlock investment, but they also distribute risk among borrowers, lenders, suppliers and shareholders.

Kaplan also addressed the Federal Reserve and the broader economy in the Bloomberg interview. His comments underline why the cost and availability of capital can shape the pace of AI construction alongside chip supply and electricity.

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