Goldman Sachs
June 1, 2026
TMT Specialist Sales Update
Daily UpdateMacro Economic IndicatorsRates CreditInformation TechnologyCommunication Services
This GS TMT Sales update highlights price target hikes for Samsung and SK Hynix amid a prolonged memory upcycle, SoftBank's €75bn AI investment in France, and regulatory headwinds for Wise.
Key Takeaways
- 1.GIR raised price targets for Samsung and SK Hynix, forecasting a 'higher for longer' memory cycle due to tight DRAM, NAND, and HBM supply through 2028.
- 2.Chinese AI models (Alibaba, ByteDance) are leading in raw token volume for cost-sensitive use cases, while US models maintain dominance in high-value enterprise workloads.
- 3.SoftBank pledged €75bn for a massive network of AI computing clusters in France, marking Europe's largest data center project.
Table of Contents
- TODAY'S WRAP
- TECH
- TELCOS
- MEDIA & INTERNET
- MACRO AND TRADING
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Authors
Sean Johnstone
Securities
Samsung ElectronicsSK HynixNVDAWISEUMG
Themes
Memory Semiconductor Cycle LongevityAI Infrastructure Expansion in EuropeChina vs US AI Model Competition
Regions
EuropeAsia PacificNorth AmericaFranceChinaBelgium