Goldman Sachs claims that AI trading is experiencing deleveraging, with the storage and data center sectors being the most attractive

Goldman Sachs believes that the market trend this week belongs to a deleveraging market, with Goldman Sachs' high beta momentum portfolio falling 12% and AI hedge portfolio falling 10% in five days. Goldman Sachs stated that the AI trading is not over yet, and the storage and data center sector is the most tactically attractive. Nvidia's second quarter financial report and September industry conference will be the catalyst for the follow-up. Software has replaced semiconductors as the largest weight in the three-month momentum long portfolio, and the semiconductor and AI composite has entered the short portfolio. Funds are shifting towards European and Japanese banks, gold miners, and copper mining stocks.