Goldman Sachs Recommends Going Long China’s AI Value Chain

Goldman Sachs sees China’s AI investment opportunities spanning the entire value chain, from infrastructure such as power supply, semiconductors and data centers to models and application services. Chinese AI companies already generate about 16% of related global revenue, yet international investors hold relatively little exposure, highlighting a clear gap between their fundamental contribution and market allocations.

Goldman Sachs’ latest report recommends that investors go long China’s AI value chain. It estimates that the companies have a combined market capitalization of about $4 trillion, while global funds allocate only about 1.2% to them, leaving room for repricing. As of July 20, 2026, available information did not specify the report’s exact publication date. Power, chips, infrastructure, and model applications were all identified as key areas for investment.