Goldman Sachs Slumps 2% Amid Tightening US-China Tech Ties

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 US-China technology restrictions.

The company has been working on several high-profile listings in China, including a $6.8 billion Hong Kong listing for Zhongji Innolight alongside Morgan Stanley and Citigroup.

Goldman Sachs and Morgan Stanley have also worked on listings involving MiniMax, Montage Technology, and Shanghai Iluvatar CoreX Semiconductor.

The opportunity is significant, 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.