Goldman Profits From China's AI-Financing Machine Amid Tightening Restrictions
Goldman Sachs, the global investment bank and asset manager, saw its shares fall nearly 2% to $940.83 on Tuesday as it remained active in China's AI-financing machine despite tightening U.S.-China technology restrictions.
The valuation of Goldman trades at 12.7% above its GF Value of $834.83, suggesting investors are already paying a premium for its earnings power and deal franchise.
Goldman profited from capital flows that policy increasingly treats with suspicion by serving as a joint global coordinator on Zhongji Innolight's $6.8 billion Hong Kong listing alongside Morgan Stanley and Citigroup, and also worked on listings involving MiniMax, Montage Technology, and Shanghai Iluvatar CoreX Semiconductor.
The opportunity is not small, with Wall Street banks acting as bookrunners on 19 Chinese high-tech equity deals worth $17.2 billion so far this year, representing nearly 30% of issuance in the sector.