Goldman Sachs
Goldman Sachs is an American multinational investment bank and financial services company.
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SanDisk Hit by Market Sell-Off Panic, Goldman Sachs Raises Price Target Against the Trend
Goldman Sachs raised SanDisk's price target from $1,200 to $2,200 and reiterated its "Buy" rating
Hit
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Trend
BlackRock, Goldman Sachs, JPMorgan Chase, and 54 other institutions join the UK tokenized financial markets working group
the UK government is accelerating the tokenization of its financial markets. 54 financial institutions, including BlackRock, Goldman Sachs, JPMorgan Chase, HSBC, and UBS, have joined the Wholesale Digital Markets Working Group supported by HM Treasury.Backed by the City of London Corporation, the working group will explore real-world tokenization use cases in the UK financial markets over the next year, with an initial focus on tokenised repurchase agreements (tokenised repo).Chris Woolard, the HM Treasury’s lead on wholesale digital markets, stated in a report that the tokenized financial market represents a "network race" and that the UK must move at the fastest possible pace, or risk missing the opportunity to participate in the global digital financial infrastructure buildout. (CoinDesk)
Backed
CoinDesk
Treasury
摩根大通
贝莱德
Wall Street investment banks’ second-quarter fee income expected to hit four-and-a-half year high, with SpaceX IPO as key catalyst
According to data compiled by Bloomberg, the five largest U.S. investment banks are expected to generate approximately $11.1 billion in investment banking fee income for the second quarter of 2026, a 27% increase year-on-year, marking the highest level since 2021. The growth is primarily driven by the SpaceX IPO and a resurgence in large M&A deals. The SpaceX IPO alone contributed approximately $500 million in fees to the 23 underwriting banks, setting a new record for the highest fees ever generated from a public offering. Goldman Sachs and Morgan Stanley each earned around $100 million from the deal.Additionally, M&A advisory fees for the five major banks are expected to rise approximately 30% year-over-year to over $4 billion. Market observers believe that future listing plans of major tech companies such as SpaceX, OpenAI, and Anthropic could further drive growth in Wall Street investment banking activities. (Financial Times)
Market
Street
Goldman Sachs: IT Services 2Q Guidance Moves Towards Midpoint, IBM Becomes Relative Beneficiary
According to TechFlow Research, Goldman Sachs' July 10 IT Services sector 2Q preview indicated that macro uncertainty has affected client decision-making since April-May, and companies are expected to lower guidance ceilings and anchor to the midpoint. IBM is the sector's only Buy rating (target price $335); software resilience coupled with enterprise AI demand makes it a relative beneficiary, with expected 2Q revenue of $17.86 billion, full-year $71.3 billion, and growth rate of 5.2%. EPAM faces greater downside risk (Neutral, target price $110), with full-year organic growth guidance potentially narrowing from 2.5%-5.0% to 2.5%-4.0%. Cognizant, Globant, and TaskUs all maintain Neutral.
Neutral
Relative
Goldman Sachs, JPMorgan Tighten Prediction Market Trading Rules Amid Rising Insider Trading Concerns
amid growing insider trading concerns surrounding prediction markets, Goldman Sachs has prohibited its employees from trading prediction market contracts related to the bank's own events, elections, financial markets, macroeconomic data, and geopolitics. Financial institutions such as Morgan Stanley, JPMorgan Chase, and Bank of America are also formulating or updating relevant policies. Bank of America, in particular, has begun clarifying prohibited practices in prediction market trading to its employees.Previously, the U.S. Commodity Futures Trading Commission (CFTC) and the Department of Justice accused a Google employee of using non-public information to trade "Search of the Year" related contracts on Polymarket, profiting approximately $1.2 million. Legal experts note that the CFTC still lacks well-established case law in enforcing insider trading rules for prediction markets, and the wide variety of prediction market contracts further complicates regulatory oversight.Currently, Kalshi and Polymarket have respectively launched employment verification tools and collaborated with Chainalysis and Palantir to monitor suspicious trading activities. (CNBC)
Chainalysis
Insider
Kalshi
Market
Polymarket
摩根大通
Strategy returns to the Top 50 U.S. Stock Volume, Surpassing Goldman Sachs
BitcoinTreasuries.NET posted on X platform, stating that Strategy MSTR, a Bitcoin treasury company, has surpassed investment banking giant Goldman Sachs in trading volume and has returned to the top 50 trading volumes of U.S. stocks.
Bitcoin
Monsterra
Strategy
Goldman Sachs: 2Q26 PC Shipments End Nine-Quarter Growth, Component Shortage Lasts Until Early 2028
According to TechFlow Research, Goldman Sachs cited IDC data on July 8 showing that 2Q26 PC shipments totaled 68.2 million units, down 4.9% year-over-year, marking the first decline after 9 consecutive quarters of positive growth, primarily due to storage/memory component shortages and high ASP suppressing demand. Significant divergence among the top five vendors: Apple +10% (9.9% share), ASUS +0.2% (7.4%), Lenovo -2% (24.4%), Dell -5% (13.6%), HP -9% (19.1%). Goldman Sachs expects supply tightness to persist until early 2028, with 2H26 shipments potentially declining further; large vendors will continue to capture share from smaller vendors leveraging supply chain management capabilities, and industry concentration will continue to rise.
Apple
Aspecta
Component
Rocket Lab founder sold a total of 3.275 million shares in this round of selling window at an average price of $87.43
according to the latest Form 4 filing, Rocket Lab (RKLB) founder and CEO Peter Beck sold a total of 3,275,779 shares in this selling window at an average price of $87.43, cashing out a total of $286 million.Peter Beck had previously announced this stock sale. In March of this year, Rocket Lab announced that Peter Beck planned to sell up to 5 million shares of the company's common stock through Goldman Sachs, with the selling window potentially opening as early as the end of June 2026 and closing by July 8, 2026. On the day of the announcement, RKLB's stock price was $60.9.
June
Rocket
Legendary Investor Grantham Criticizes SpaceX: The Market is Chasing "The Most Outrageous Investment Story in History"
Jeremy Grantham, renowned investor, co-founder, and chief investment strategist at GMO, stated that the market might look back on the SpaceX listing in 50 years with a sense of "mockery," calling it "the most outrageous IPO in human history."Grantham believes that SpaceX’s grand vision of "making humanity a multi-planetary species," coupled with the market’s current strong enthusiasm for the company, could be viewed by investors in the future as excessive optimism. "Everyone is lining up to tell you to buy the most outrageous IPO in human history. 50 years from now, people will quote paragraphs from the prospectus and laugh about it," he said.Since SpaceX joined the Nasdaq-100, it has garnered significant institutional attention, but its stock price has faced pressure recently. Currently, SpaceX’s stock is down about 7% from its one-month high, hovering around $150, only slightly above its IPO target price of $135.Wall Street institutions are divided on SpaceX’s future valuation. Morgan Stanley reportedly has given it a $300 price target, while Goldman Sachs analysts estimate a target of around $205. JPMorgan Chase believes that Elon Musk’s goal of achieving $1 trillion in revenue by 2031 is "theoretically achievable" but would require extremely strong execution capabilities.Grantham also pointed out that one of SpaceX’s biggest risks is its heavy reliance on Musk’s personal leadership. He noted that Musk holds approximately 82% of the voting control, which serves as both a key driver of SpaceX’s culture and innovation capability, and a source of risk related to governance structure and leadership changes.However, Grantham acknowledged that SpaceX’s inclusion in the Nasdaq index could generate additional buying pressure. He said that as a large amount of funds tracking the Nasdaq index are forced to allocate to SpaceX stock, market demand may exceed supply, thereby pushing the stock price up.Nevertheless, he believes that in the long run, SpaceX still faces significant challenges. If the valuation logic for the company ultimately holds, the future world could undergo drastic changes driven by the development of artificial intelligence and automation technologies. Conversely, if expectations fail to materialize, this IPO would also become a landmark event in financial history. (Fortune)
Market
Street
Goldman Sachs: LEO Satellite Deployment Accelerating, Over 300,000 in Orbit by 2031
According to TechFlow Research, Goldman Sachs' July 8 Global LEO Satellite Report shows that the number of LEO satellites in orbit reached 10,000 in 2025, is expected to reach 24,000 in 2028, 305,000 in 2031, and could reach 396,000 under the blue sky scenario. SpaceX, Amazon, and others are accelerating deployment; Amazon has received FCC approval to add 4,500 satellites. China's three major constellations, GW/G60/Honghu, plan for over 35,000 satellites. Among the targets covered by Goldman Sachs, US stocks SpaceX, Amazon, Boeing, and Kratos benefit; A-share Tongyu Communication received a buy rating with a target price of 79 yuan; HK-stock ZTE is a core supplier of ground equipment, with about 70,000 satellites awaiting launch in the next five years.
Bitfinex
Fishcake
Freechat
Kratos
Orbit
Orbit
Goldman Sachs Initiates Coverage on SpaceX, Buy Rating, Target Price $205
According to TechFlow Research, Goldman Sachs initiated coverage of SpaceX (SPCX) on July 7, assigning a Buy rating with a 12-month price target of $205. The report breaks down SpaceX into three major businesses: Space, Connectivity, and AI, including launch capacity accounting for over 80% of global mass delivered to orbit, Starlink broadband users expected to reach 96.2 million by 2030, and AI compute capacity expanding from 2 gigawatts to 36 gigawatts (including 26 gigawatts of orbital compute). The core advantage is vertical integration, with self-developed rockets, self-built data centers, and self-trained models; the launch cost per kilogram for Falcon 9 is more than 85% lower than the industry average. Goldman Sachs estimates that from 2026 to 2030, SpaceX will need to issue approximately $270 billion in debt cumulatively, with free cash flow expected to turn positive in Q4 2030.
Price
Space
Starlink
SpaceX IPO Quiet Period Ends, Wall Street Firms Upgrades Ratings in Rapid Succession
as the 25-day quiet period following SpaceX's (SPCX) June IPO comes to an end, Wall Street analysts have begun releasing formal research reports. Multiple major brokerages have issued favorable ratings, indicating institutional investors remain optimistic about the company's long-term growth potential.As IPO underwriters, both Goldman Sachs and Morgan Stanley have assigned buy-equivalent ratings to SpaceX. Goldman Sachs analyst Eric Sheridan set a price target of $205, while Morgan Stanley analyst Adam Jonas gave a target of $300. Additionally, institutions such as Bank of America, Citigroup, Deutsche Bank, JPMorgan, and UBS have also initiated coverage with buy or equivalent ratings. Among them, Raymond James Financial provided the most optimistic forecast; analyst Brian Gesuale initiated coverage of SpaceX with a "Strong Buy" rating and a price target as high as $800, believing SpaceX will become "one of the most representative industrial infrastructure companies of the 21st century."Analysis suggests that market optimism towards SpaceX is primarily based on its布局 (layout/foundation) in areas such as rocket launches, Starlink satellite internet, and government contracts. At the same time, the company's communications business can provide a sustainable source of revenue and support future expansion of launch scale.As of March 31, 2026, SpaceX holds 18,712 Bitcoins. Wall Street believes that the concentrated coverage following the end of the IPO quiet period provides a window for institutional investors to conduct their first systematic assessment of SpaceX's valuation. The fact that nearly all major institutions simultaneously issued positive ratings is relatively rare for large-scale IPOs. (CoinDesk)
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Brian
CoinDesk
June
Starlink
Street
Goldman Sachs: Circle and USDC Are Moving Beyond the Crypto World, Cross-Border Payments and AI Agents Become the New Battlefield
According to TechFlow Research, minutes from Goldman Sachs' July 5 Circle management meeting indicate that stablecoin growth has decoupled from crypto market cycles, with use cases rapidly expanding towards cross-border payments, consumer e-commerce, capital market settlement, and AI agent payments. USDC accounts for approximately 99% of trading volume in the x402 agent payment protocol. Circle pointed out that the "digital dollarization" trend in emerging markets is accelerating, with USDC becoming a tool to replace local currencies and unreliable banking systems. If passed, Circle believes the CLARITY Act will be a catalyst rather than a headwind; the bill allows issuers to continue revenue sharing to incentivize distribution and encourages usage-based reward mechanisms rather than passive holding.
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Goldman Sachs is bullish on three semiconductor stocks, while warning of the risk of stock price overextension.
According to TechFlow Research, the SOX rose 88% in Q2. Goldman Sachs believes earnings beating expectations is a high-probability event, but pressure from stock prices pricing this in early also exists. Covered stocks are expected to beat expectations across the board this quarter, with AI server chips providing the strongest drive, while Industrials and Automotive still lag behind. The tactical list clearly indicates Overweight on AMAT (target price $645), AMD ($640), and ON ($95); it is cautious on KLAC (Neutral) and ARM (Underweight), and while Q is rated Buy, the risk-reward ratio is weak. Goldman Sachs' 2027 EPS forecast for AMD is 13% higher than market consensus. Memory shows the greatest upside, with SNDK's target price raised from $1,200 to $2,200, STX raised to $960, and WDC raised to $650 (up 240% year-to-date).
Memory
Neutral
Stacks
Data center operator Switch launches $2 billion private financing, a16z leads the investment
According to Bloomberg, data center operator Switch has officially launched a $2 billion private financing round led by a16z. Sources familiar with the matter revealed that Switch's enterprise valuation (including debt) following this financing could approach $50 billion, with an equity value of approximately $19 billion (excluding new investment). a16z is set to invest approximately $400 million. Additionally, Goldman Sachs Group and JPMorgan Chase are assisting in facilitating this financing round, which may prepare Switch for an initial public offering (IPO) as early as next year. Relevant negotiations are currently ongoing, and the financing size, valuation, and timing remain subject to adjustment. Headquartered in Las Vegas, Switch was founded in 2000 and currently operates data centers in Nevada, Michigan, Georgia, and Texas. Its majority equity is held by DigitalBridge, which previously privatized Switch in a transaction valued at approximately $11 billion (including debt) in 2022 alongside investors such as IFM Investors.
Relevant
Switch
摩根大通
Goldman Sachs Bullish on AI Infrastructure, June Trading Near $7 Billion, SMCI Order Backlog $39 Billion
According to TechFlow Research, Goldman Sachs' June 30 AI Project Pulse Monthly Report shows that 7 major transactions tracked in June totaled nearly $7 billion. Argentum AI signed a $4.1 billion contract to deploy 27,000 GB300 GPUs for a leading AI company, supported by a 300MW Poland data center, going online in phases in 2026; India's Yotta Sovereign Cloud procured $2 billion worth of 20,736 B300s and 5,120 B200s, subsequently expanding to six Southeast Asian countries. Crypto mining farm AiOnX acquired 77% equity of Genesis Digital Assets for $500 million, converting 1.3GW of power from 15 mining farms to AI computing power. CoreWeave and Dell built the world's first fully validated Vera Rubin NVL72 rack, with 72 Rubin GPUs plus 36 Vera CPUs; NVDA confirmed mass production in the second half of 2026. SMCI raised $7 billion to address approximately $39 billion in backlog orders, covering more than 20 clients, with funds used to lock in upstream components in advance. Goldman Sachs simultaneously raised its global server market size forecast.
Bullish
CoreWeave
Genesis
Genesis
Genesis Digital Assets
GPU.Net
Goldman Sachs Raises Robinhood (HOOD) Price Target to $121 Again
Goldman Sachs analyst James Yaro has released an analysis report on Robinhood (HOOD), maintaining a "Buy" rating and raising the price target from $108 to $121.
Price
Robinhood
Goldman Sachs: Asian Stock Market Gains Highly Concentrated, Continue to Bet on North Asia Tech in Second Half
80% of returns in Asian markets come from earnings growth; in the second half of the year, continue to hold onto hardware and chip winners that have already rallied, rather than chasing catch-up gains in lagging sectors.
Market
Goldman Sachs Strategist: Semiconductor Sector Highly Volatile, Favor Large-Cap Tech Stocks
Odaily
Cap
Goldman Sachs: U.S. IPO recovery is robust, but has not yet reached the frenzy levels of the dot-com bubble
According to CoinDesk, Goldman Sachs stated that U.S. IPO activity in 2026 doubled year-on-year, with approximately 50 companies having gone public and issuance volume reaching about $120 billion in dollar terms—matching the full-year record set in 2021. Ben Snider, Goldman Sachs’ Chief U.S. Equity Strategist, noted that this recovery is primarily driven by a wave of large-cap listings and financing demand tied to AI development—a “normal recovery” that remains fundamentally distinct from the speculative frenzy seen during the dot-com bubble. Currently, the average annual number of IPOs stands at roughly 100, far below the 250 IPOs in 2021 and the nearly 400 IPOs recorded at the peak of the 1999 bubble. Notably, crypto firms—including Payward (Kraken’s parent company), Consensys, Ledger, and Grayscale—have postponed or suspended their IPO plans amid market volatility and underwhelming post-listing performance. Meanwhile, high-profile AI- and tech-related IPOs such as SpaceX have successfully listed, drawing institutional capital away from the crypto market and into other sectors—exerting downward pressure on tokens and crypto-related stocks.
CoinDesk
Grayscale
Kraken
Ledger
Meanwhile