Goldman Sachs
Goldman Sachs is an American multinational investment bank and financial services company.
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Anthropic's annualized revenue exceeds $65 billion, up more than 7x since the end of last year
Odaily News: As Anthropic prepares for an IPO, its annualized revenue run rate had surpassed $65 billion (approximately 92 trillion KRW) as of the end of July, representing a more than sevenfold increase from the end of last year. The figure was disclosed in regular operating data reports shared with major investors.Anthropic's full-year 2025 revenue has already exceeded $9 billion, reaching $47 billion in May this year. Preliminary second-quarter revenue surpassed $11.5 billion, compared to $787 million in the same period last year—a roughly 15-fold increase. Adjusted operating profit is expected to turn profitable.Anthropic has hired Morgan Stanley and Goldman Sachs as lead underwriters for its IPO, with JPMorgan also participating in the transaction. Following its latest funding round, the company is valued at $965 billion, one of the highest valuations among private companies. (ETNews SW)
KingDefi
摩根大通
Goldman Sachs says the likelihood of a Fed rate hike in September is "very low"
According to CoinDesk, Goldman Sachs stated that due to weak retail sales and employment data, as well as slowing inflation, the likelihood of the Federal Reserve raising interest rates in September is "very low". Goldman Sachs Chief Economist Jan Hatzius believes that as the economy progresses throughout the year, inflation data is more likely to continue improving rather than deteriorating again. Slowing interest rate expectations may improve the market liquidity environment, providing potential support for risk assets such as Bitcoin.
Bitcoin
CoinDesk
AI video platform Higgsfield completes $400 million funding round, reaching a valuation of $5.4 billion
Odaily News: AI video generation platform Higgsfield has completed a $400 million funding round at a valuation of $5.4 billion. Investors include DST Global, Goldman Sachs, Liberty Global, Intel, Tribe Capital, Smash Capital, Fifth Wall, Valor Capital, Mirae Asset Capital, and NTT DOCOMO Ventures. The funding will primarily be used for enterprise-grade products, security, and computing power investment.Higgsfield was founded by former Snap executive Alex Mashrabov and currently has over 30 million users across 238 countries and regions. As of August this year, its annualized revenue had reached $700 million. Previously, Higgsfield raised $80 million at a valuation of $1.3 billion. (FT)
Alex
August
Higgsfield Completes $400 Million Financing, Valuation Reaches $5.4 Billion
According to Cointelegraph, AI company Higgsfield has completed $400 million in funding at a valuation of $5.4 billion. This round was jointly supported by Goldman Sachs and Intel, with news sourced from the UK Financial Times (FT).
Cointelegraph
Wall Street's Next Crypto Competition: Goldman Sachs Challenges BlackRock in Bitcoin Yield Product Market
Odaily News: Goldman Sachs has disclosed the acquisition of ETF management firm NEOS Investments in a deal valued at up to $2.25 billion, which is expected to close in the first quarter of 2027 pending regulatory approval. The market views this move as a way for Goldman Sachs to quickly enter the Bitcoin yield ETF space, potentially putting it ahead of BlackRock in the Wall Street crypto asset competition.NEOS currently manages approximately $30 billion in assets, with its most notable product being the Bitcoin yield ETF BTCI (NEOS Bitcoin High Income ETF), which holds about $1.1 billion in assets. The fund generates monthly income for investors by holding Bitcoin-related ETFs and selling call options, currently offering a distribution yield of approximately 27%.Bloomberg ETF analyst Eric Balchunas stated that by acquiring NEOS, Goldman Sachs gains BTCI, effectively bypassing the need to build a similar product from scratch and "beating" BlackRock's previously launched Bitcoin yield ETF product, BITA.Goldman Sachs' deal is seen by the market as a new phase in Wall Street's crypto asset positioning. Industry insiders believe that Bitcoin spot ETFs represent the "first phase," while active management products based on Bitcoin, such as yield enhancement and options strategies, will become the focus of competition in the next phase.However, BTCI's high yield comes with risks. The product does not directly hold Bitcoin but instead generates returns by selling call options on Bitcoin-related ETFs, potentially sacrificing some upside when the market rallies. Analysts note that BTCI's net asset value has fallen approximately 43% over the past year, and part of its high distribution yield may come from return of capital.BlackRock has already launched a competing product, BITA, but its current scale is approximately $59 million, significantly lower than BTCI's roughly $1.1 billion in assets. The market is watching whether Goldman Sachs will maintain BTCI's existing structure after the acquisition is completed and further expand its competitive advantage in the Bitcoin yield product market. (Forbes)
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贝莱德
Goldman Sachs: Maintains SanDisk Buy Rating, 80% Gross Margin Target and $15.5 Billion Buyback Open 64% Upside Potential
According to TechFlow Research, Goldman Sachs' research report on August 13 pointed out that SanDisk's stock price rose 15% subsequently, as the company's disclosed long-term financial targets significantly exceeded market expectations: revenue CAGR from FY28 to FY30 reaching mid-to-high double digits, gross margin 80%, operating margin 75%, and free cash flow margin over 50%. Management plans to return 100% of excess free cash flow to shareholders; previously authorized $6 billion buyback (approximately $4.5 billion executed), with this new $14 billion authorization, the total remaining buyback capacity is approximately $15.5 billion. To date, SanDisk has signed 8 customers with a total contract value of approximately $94 billion; approximately 50% and 67% of planned capacity for FY27 and FY28 respectively are covered by NBMs (long-term customer agreements). The research report judges that the market's previous pricing logic regarding NAND cyclicality needs recalibration; although long-term agreements require time to validate, SanDisk is reshaping revenue visibility through NBMs and opening incremental space for AI inference through HBF (High Bandwidth Flash) technology. Goldman Sachs maintains a Buy rating and a $2200 target price, based on 20x P/E ratio multiplied by normalized EPS of $110; current stock price is approximately $1344, implying 64% upside potential.
August
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Goldman Sachs Acquires NEOS Investments, an ETF Issuer Managing $30 Billion in Assets
Odaily News: Goldman Sachs has announced the acquisition of NEOS Investments. NEOS Investments is an ETF issuer managing $30 billion in assets, including the Bitcoin High Income ETF (BTCI), which manages $1.1 billion in assets.
Bitcoin
Goldman Sachs: Fed's July Hold Absolutely Correct, Should Stay Flexible Ahead of September
: Goldman Sachs analyst Robert Kaplan said the Fed's decision not to raise interest rates in July was "absolutely" correct, urging policymakers to keep an open mind ahead of September, citing the complex factors affecting inflation and warning that rigid forward guidance could be counterproductive. Kaplan noted: "If we see meaningful improvement, I might be willing to continue holding, but I want to make full use of every moment before September to assess the situation, avoiding rigidity or preconceived notions."Kaplan believes the forces currently at play include: inflationary pressures from AI infrastructure build-out, tariffs, labor constraints, and surging oil prices; meanwhile, AI applications are working in the opposite direction, accelerating the trend of disinflation. He suggested that Warsh should use his speech at this month's Jackson Hole symposium to briefly explain the Fed's reasoning for holding steady in July, rather than delivering a purely "philosophical" address. Kaplan said he is more concerned about the long end of U.S. Treasury yields than the federal funds rate itself. He noted that the rebound in long-term government bond yields globally reflects structural supply-demand imbalances driven by persistent wide fiscal deficits, rather than Fed policy. (Jin Shi)
Treasury
Goldman Sachs: US AI Investment to Reach $600 Billion, GDP Boost Only 0.1 Percentage Points
According to TechFlow Research, Goldman Sachs' August 10 research report predicts that U.S. AI investment will reach $600 billion by 2026, accounting for nearly 2% of GDP and over 10% of business fixed investment. The three major crowding-out channels total approximately $50 billion: substituting other tech investment by about $30 billion, crowding out other construction by about $10 billion, and AI bond issuance pushing up interest rates by about 5 basis points corresponding to an investment reduction of about $10 billion. AI investment directly boosts GDP by only 0.1 percentage points; after adjusting statistical methodology, the real boost is about 0.3 percentage points; considering wealth effects and crowding-out effects, the net impact is about 0.2 percentage points. Goldman Sachs believes the market narrative on AI driving growth is somewhat exaggerated; much of AI investment is spent on imported equipment; data center construction shows significant local crowding-out but is offset by a decline in manufacturing facilities at the national level; AI bond issuance impacts interest rates by only 5 basis points. AI is neither a panacea nor a vampire; the actual boost to the economy is smaller than it sounds, and the crowding-out effect is also less than feared.
August
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Institutional investors sold off $21.6 billion in Nasdaq futures, setting the largest single-week sell-off record.
The Kobeissi Letter stated that, according to Goldman Sachs data, for the week ended August 4, institutional investors such as hedge funds and asset management firms sold a combined $21.6 billion in Nasdaq futures, marking the largest single-week selling volume on record. Short selling transactions were particularly dominant, accounting for 72% of total sales.
August
Goldman Sachs Acquires ETF Manager NEOS for $2.25 Billion
Goldman Sachs agrees to acquire NEOS Investments for up to $2.25 billion, incorporating its $30 billion ETF business and Bitcoin and Ethereum income funds into its asset management platform.
Bitcoin
Ethereum
高盛 22.5 亿美元收购 NEOS 布局比特币收益 ETF
Goldman Sachs will acquire ETF provider NEOS Investments for up to $2.25 billion, gaining its managed $1.1 billion Bitcoin synthetic ETF product BTCI, with the transaction expected to close in Q1 2027.
Bitcoin
$1 billion Bitcoin premium income ETF yields 27%, Goldman Sachs to Hold BTCI in Neos Trades
Odaily News: Bloomberg ETF analyst Eric Balchunas posted on X platform, stating that Goldman Sachs will hold BTCI in Neos trades. BTCI is a $1 billion Bitcoin premium income ETF with a 27% yield, capturing most but not all of Bitcoin's upside. He noted this explains why Goldman Sachs never launched its Bitcoin covered call options product filed months ago; rather than launching a similar product, it is better to surpass BlackRock's BITA.
Bitcoin
Goldman Sachs Plans to Acquire ETF Issuer Neos Investments for $2.3 Billion
According to Bloomberg, Goldman Sachs Group announced it will acquire ETF issuer Neos Investments for up to $2.25 billion in cash and stock to expand its footprint in the actively managed ETF market. Neos owns nearly 20 option income ETF products, with assets under management of approximately $32 billion. The acquisition is led by Marc Nachmann, head of Goldman Sachs Asset Management.
Acquire
Bank of America: NVIDIA $500 Billion Third-Party Financing Diversifies Risk, No Need to Tap Balance Sheet
According to TechFlow Research, a Bank of America research report on August 10 pointed out that NVIDIA signed a memorandum of understanding with Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs, and KKR to mobilize over $500 billion in third-party capital through an independent platform. Previously, NVIDIA invested approximately $70 billion in equity in ecosystem partners such as OpenAI and Anthropic, accounting for only 15% of the expected free cash flow of $470 billion from 2026 to 2027, without affecting the commitment to return 50% of free cash flow to shareholders. Bank of America believes the financing structure shifts the capital burden from NVIDIA to the consortium. GPU computing power can be transferred across operators, and CUDA extends the service life, with the asset quality itself resisting depreciation. The $500 billion fund pool allows non-investment grade buyers to acquire GPUs at preferential rates, transforming AI computing power acquisition from capital-intensive purchases to financial leasing, supporting the $1.7 trillion AI system TAM by 2030. Bank of America maintains a Buy rating with a target price of $350, corresponding to 26 times the expected earnings per share in 2027. The upcoming earnings conference call is the next important catalyst.
Apollo
August
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GPU.Net
Goldman Sachs: US Plans to Ban Chinese Optical Modules, Leading Manufacturers' Moat Deeper Than Market Expects
According to TechFlow Research, Reuters reported on August 4 that the Trump administration and the FCC are drafting a plan to ban US imports of Chinese data center components, with optical modules specifically mentioned. Goldman Sachs responded to three core questions in an August 10 research report: rapid technological iteration, strong AI demand, and high R&D requirements for multiple SKU varieties make clients more reliant on existing leading manufacturers in the current environment and unlikely to switch to new suppliers easily. Seven of the top ten global optical module suppliers are headquartered in China, and their market share in 2025 will expand further compared to 2024. Goldman Sachs pointed out that leading manufacturers have outstanding advantages in capacity commitments, automated production, and manufacturing efficiency. Product upgrades to 1.6T and above further raise the manufacturing threshold, making it difficult for small and medium-sized manufacturers to catch up in the short term. Overseas capacity deployment is underway; Eoptolink's Phase I in Thailand is at full capacity, and Phase II will expand in 2026, establishing a long-term diversification trend. Goldman Sachs gave Buy ratings to Eoptolink and Robotechnik, and also gave Buy ratings to FOCI, LandMark, and VPEC (all Taiwan stocks), believing that technology, capacity, and customer synergy constitute difficult-to-replicate competitive barriers.
August
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NVIDIA Partners with Six Institutions to Establish Financing Platform, Plans to Mobilize Over $500 Billion for AI Infrastructure
NVIDIA announced partnerships with Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs, and KKR to establish an independent financing platform. The platform aims to mobilize over $500 billion in third-party capital over the long term to support AI infrastructure development.
Apollo
NVIDIA
Nvidia Partners with Six Major Asset Managers to Drive AI Infrastructure Financing, Aiming to Mobilize Over $500 Billion in Capital
Odaily News Nvidia CEO Jensen Huang announced that the company has partnered with Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs, and KKR to establish an independent financing platform, planning to mobilize over $500 billion in third-party capital over the long term to support AI infrastructure development.Huang stated that the AI industry is transitioning from a phase where "enterprises purchase chips and build data centers project by project" to a new stage where AI factories serve as financeable productive infrastructure. AI computing power is becoming an investable asset, characterized by long-term institutional capital support, repeatable construction, and usage by diverse customers.Nvidia noted that AI factories encompass not only GPUs but also high-speed networking, system software, AI frameworks, and the CUDA ecosystem. Built on globally widely adopted architectures, AI factories can serve different customers, cloud providers, and application scenarios, while possessing strong asset liquidity and residual value.In this collaboration, Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs, and KKR will independently evaluate specific projects, including customer demand, compute utilization, cash flow, and asset value. Nvidia will provide the AI factory platform, while the financial institutions will handle long-term capital and financing capabilities.Huang indicated that in some projects, Nvidia may provide up to 25% residual value support, but this will be prudently assessed on a project-by-project basis. The mechanism is designed to supplement, not replace, the independent judgment of institutional investors.He believes that AI factories will become the "infrastructure of the intelligent era," much like how electricity, transportation, and communication infrastructure drove past industrial revolutions. Going forward, growing demand for AI computing will create a virtuous cycle where "more compute drives stronger AI, stronger AI generates more revenue, and more revenue further fuels compute demand."
Apollo
GPU.Net
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Node AI
贝莱德
NVIDIA Partners with Six Major Wall Street Institutions to Establish $500 Billion AI Infrastructure Financing Platform
According to CNBC, Nvidia has signed a memorandum of understanding with Apollo Global Management, Blackstone, BlackRock, Brookfield Asset Management, Goldman Sachs, and KKR to jointly establish a financing platform for Nvidia customers, aiming to mobilize over $500 billion in third-party capital for hyperscale data center construction and Nvidia hardware procurement. Nvidia CEO Jensen Huang characterized this as the first time AI chips have become an "investable asset class," stating they possess revenue-generating capabilities, long service lives, and can be transferred across customers, while analogizing compute infrastructure to electricity and the internet. BlackRock CEO Larry Fink defined the project as the "next future of financial engineering" following the securitization of mortgages in the 1970s, and stated that more funds would be raised as soon as possible. Goldman Sachs CEO David Solomon revealed that this collaboration was initiated by Jensen Huang. Currently, some funds have already been raised; the parties will provide financing support for GPUs and data centers through institutional credit, insurance capital, and private capital, helping end users complete AI infrastructure construction without tapping their own balance sheets.
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Solomon
Goldman Sachs: Hedge Funds Buy Global Stocks for Second Consecutive Week, Risk Appetite Clearly Rebounds
Odaily News: Goldman Sachs data shows that global hedge funds have increased their stock holdings for the second consecutive week, reversing the significant reduction in risk exposure seen in late July, indicating that institutional investors' risk appetite is warming up.The report shows that overall hedge fund trading activity has risen to its highest level in seven weeks, with long buying volume exceeding short selling volume at a ratio of 1.4:1. Meanwhile, single-stock trading has seen its first net buying in nearly a month, suggesting that fund managers are beginning to re-establish exposure to individual stocks.In terms of sector allocation, the materials sector has emerged as one of the areas with the strongest capital demand, experiencing the largest short-covering rally in nearly two years. Goldman Sachs noted that the recent improvement in market sentiment has led to the rapid unwinding of previously established short positions, further boosting related sector performance.Earlier, hedge funds significantly reduced their stock positions in late July due to concerns over economic growth, heightened market volatility, and policy uncertainty. This consecutive buying spree suggests that some institutions are once again betting on a rebound in risk assets.
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