Goldman Sachs Asset Management recommends investors focus on the “picks and
shovels” of AI, including semiconductor and cybersecurity companies, as capital
expenditure accelerates despite geopolitical risks from the Iran war. Brook
Dane, GSAM co-head of public tech investing, said compute capacity remains
constrained, supporting a multiyear investment cycle. He highlighted Marvell
Technology for its strong vendor ties and growth potential, and noted that AI
advances are increasing demand for cybersecurity solutions. Dane emphasized that
the AI investment cycle is early to mid-stage, with durable opportunities ahead.
