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Highlights
- Goldman Sachs is searching for the next NVIDIA
- The asset manager's focus is on emerging markets
- The AI marketplace is growing at a fast pace with massive capital boom
Considering the significant level of performance and euphoria that Artificial Intelligence (AI)-based firm NVIDIA has recorded, Goldman Sachs is now searching for the next wave of AI companies that can produce such results.
Goldman Sachs Is Targeting High-Performing AI Bets
Investors are currently looking beyond the United States to other emerging markets for better value and a bigger market for AI.
Goldman Sachs, particularly its asset management division, was specific about its quest for stakes in the manufacturers of AI supply-chain components, such as cooling systems and power supplies.
Other institutions like JPMorgan already have ties with traditional electronics manufacturers that are gradually transitioning into AI leaders.
On the other hand, investment managers at Morgan Stanley are placing bets on players where AI is revolutionizing business models in not technology-inclined sectors. According to Jitania Kandhari, the deputy chief investment officer at Morgan Stanley Investment Management, AI is perceived as a key growth driver in emerging markets.
“While we have previously invested in direct AI beneficiaries like semiconductors, going forward it will be key to look for companies in different industries that are adopting AI to enhance earnings,” Kandhari added.
NVIDIA Gains Industry Dominance
NVIDIA, the de-facto reference tech giant for these big money managers, is one of the AI firms that has registered excellent results in the last few months.
In February, the firm became the talk of the town after it hit $2 trillion in market capitalization. This figure helped NVIDIA surpass the likes of Amazon and Google’s parent company Alphabet. The global GPU manufacturing giant has a strong relationship with the Chinese market where it supplies its AI chips.
The firm recently revealed its AI superchip Blackwell at the GTC conference in San Jose, California.
Markedly, the Blackwell superchip series is a revolutionary project that aims to overhaul the AI landscape for the better, offering unparalleled performance and capabilities to its users. It is made up of 208 billion transistors and is designed to meet the demands of high-end AI-driven applications across various industries with enhanced processing power, efficiency, and versatility.
This newly introduced product is already garnering attention which threatens the performance and position of other tech firms.
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