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 cyb

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.