Goldman Sachs says a new “capex supercycle” is beginning and argues that certain technology companies are positioned to benefit as spending on artificial intelligence boosts demand and earnings. In a client note dated Tuesday, Peter Oppenheimer, the bank’s chief global equity strategist, characterizes the trend as an expansion in capital expenditures linked to AI. The bank’s view is that this sustained investment environment could support revenue growth across parts of the tech sector tied to AI infrastructure, software, and related services.
In the reporting provided, Goldman Sachs promotes a list of 16 tech stocks that it believes are suited to capture upside from the expected AI-related spending cycle. The coverage does not provide the full list of companies or specific valuation or performance targets in the excerpts shown, but it centers on the bank’s broader thesis: AI-driven capital spending could translate into stronger earnings for technology firms participating in that ecosystem.
Overall, the sources agree on Goldman Sachs’ framing of an AI-capex supercycle and its decision to recommend a portfolio of 16 tech stocks believed to be well positioned for that environment.
