TMT Special Sales

Latest edition · June 3, 2026

GS TMT SPEC SALES Media reiterating coverage - RELX, WKL, PUB, WPP and OMC.; ASML upside; Prosus delay on sale of DHERO; US AI regulation; Computex

Goldman Sachs TMT Specialist Sales provides a market wrap highlighting a surge in Semi/AI stocks (Marvell, HPE) and the resumption of European Media coverage using a new AI-moat assessment framework.

The report details a significant 'momentum bounce' in technology stocks, catalyzed by bullish commentary from NVIDIA's CEO regarding Marvell and strong guidance from HPE. It introduces a comprehensive research initiation on European Media, favoring Publicis, Omnicom, and RELX while rating WPP a Sell. Additionally, the note covers critical developments in US AI regulation, AI infrastructure updates from Computex (including Samsung and ARM), and strategic shifts in the European Telco landscape involving BT, Telenor, and Telia.

Key takeaways from the latest edition

• 1.Goldman Sachs has resumed coverage on the European Media sector with a new AI framework to test the business moats of agencies and publishers.
• 2.NVIDIA's CEO Jensen Huang highlights Marvell (MRVL) as a potential '$1 trillion company', driving a 32% overnight share price increase.
• 3.A new US executive order on AI regulation signals increased federal involvement in cybersecurity, governance, and security testing of 'frontier models'.

What this series covers

• TODAY'S WRAP
• EUROPEAN MEDIA
• Prosus
• Regulation
• OpenAI
• Microsoft
• TECH
• TELCOS
• MEDIA & INTERNET
• MACRO AND TRADING
• 2026 EMEA Conferences
• 2026 Conferences
• TMT RESEARCH TEAMS

Edition archive

• GS TMT SPEC SALES Media reiterating coverage - RELX, WKL, PUB, WPP and OMC.; ASML upside; Prosus delay on sale of DHERO; US AI regulation; Computex

  June 3, 2026

• GS TMT SPEC SALES SNOW raises guide; CRM mixed; CAP CMD debate; DHERO Uber upps stake; Semicap - ASML visit +ve; BT

  May 28, 2026

• GS TMT SPEC SALES Memory runs higher; CAP CMD guide debate; IFX raises prices; Indra appoints CEO; Zegona negative Towers

  May 27, 2026

• GS TMT SPEC SALES Momo intraday bounce; Chinese Memory; Nvidia tonight; Google ; DASH; Springer block; Hexagon last day cum Octave

  May 20, 2026

• GS TMT SPEC SALES Momo unwind continues

  May 19, 2026

• GS TMT SPEC SALES French consoldation talks continue; AMAT beat & raise; Freenet solid; US Wireless satellite deal; VOD Sell; DHERO breakup

  May 15, 2026