• Business Insider got an exclusive look at David Solomon's annual letter to interns.
• The 2026 class includes around 2,500 interns, with an acceptance rate of less than 1%.
• Solomon advised interns to "manage your energy" on the same day as SpaceX's IPO, which the bank led.

Goldman Sachs' youngest employees are walking into an "innovation supercycle."

CEO David Solomon said as much in his annual welcome letter to interns, sent Friday to the entire firm, where he also celebrated Goldman's position as lead left bookrunner on SpaceX's historic IPO.

He's sent a similar note every year since 2019, and said last summer that "the only constant is change," which proved wise words ahead of a year defined by transformation, even to intern programs themselves.

"It's an extraordinary time," Dan Dees, the co-head of global banking and markets, told some of the interns at an orientation last week, striking a similar tone to his boss. "The scale of ambition of our clients is staggering — the things they want to do, the pace of change, and where that puts us. And you're in the middle of all of it."

Goldman is hosting around 2,500 interns this year, down slightly from last year's 2,600, and the program has an acceptance rate of less than 1%. Some interns started on June 1, and others on June 8.

See Solomon's full letter to the interns:

June 12, 2026

Message to Our People as We Welcome Our 2026 Summer Interns

I look forward to our summer internship program every year, and after more than 25 years at the firm and even longer in the industry, I can say without hesitation that this is a unique period to be in financial services — and an extraordinary time to be at Goldman Sachs.

Our firm has a long history of serving our clients with uncompromising excellence, advising companies all over the world on their most consequential transactions. Throughout, including during periods of remarkable change, Goldman Sachs and our people have been at the forefront of both developing innovative approaches and putting those ideas to work — with an unwavering focus on addressing the evolving needs of our clients, including through landmark and first-of-their-kind transactions.

This week marks a significant moment in financial history. Yesterday, our client SpaceX priced its $75 billion IPO, the largest ever brought to market. We are honored to have served as lead left book runner on the transaction, building on a long tradition of being a critical part of our clients' journeys as they seek to advance their strategic objectives.

And, with global M&A volumes already exceeding $2.6 trillion this year as Al and strategic consolidation reshape entire industries, as well as trading volumes reaching all-time highs as clients navigate a range of risk events, we are operating in an innovation supercycle.

Every day and in an environment that never stands still, teams across Goldman Sachs strengthen our position as a trusted advisor, financier, and disciplined risk manager. What has always differentiated us as a firm is how our people respond — acting with integrity and agility, partnering effectively and comprehensively, and meeting the moment head-on. In particular, we have a responsibility to maintain a broader perspective of how the landscape can shift, with each of us looking around the corner and staying vigilant in managing risk as we remain focused on putting our clients' and the firm's long-term interests first.

And so, as our 2026 interns join our global teams for the next few weeks, you will work alongside exceptional colleagues and experience first-hand not only what it means to operate at the heart of global finance, but also to be at a firm that has a rich history of evolution and leaning in to our culture and core values to embrace the promise of the future.

With that in mind, I would like to share some advice to help our interns make the most of their internship this summer:

• Show up with intent. Be present, take ownership, and treat each day as a chance to learn the firm.
• Be curious, innovative, and coachable. Ask questions, seek context, listen actively, and stay open to new ideas by adopting a growth mindset — from learning from the people around you to experimenting with our AI solutions to enhance your teams' workflows, look for ways to improve every day.
• Cultivate partnership. Individual effort matters, but impact is amplified through teamwork. Build strong connections with the people around you and contribute to a culture where we deliver together.
• Raise the bar. Pair high standards with prudent risk management. Be thoughtful, escalate early, and take accuracy seriously. Bring a mindset of excellence to every assignment, no matter the size.
• Manage your energy. Work hard, stay disciplined, and make time to enjoy the experience. You are just getting started.

To our people, thank you for your outstanding dedication to the firm and extraordinary efforts. And, to our summer interns, welcome again to Goldman Sachs. Your energy, ideas, and many contributions will make us better — they always do.

David