Goldman Sachs: World Model May Become a New Engine for Future AI Infrastructure, Adding New Computing Demands
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Goldman Sachs: AI investment focus shifts to real-world industries; capital expenditure could reach $7.6 trillion over the next 6 years.
According to a recent report by Goldman Sachs, the focus of artificial intelligence (AI) investment has begun to extend to the broader real economy. While computing power, electricity, and data centers are still under rapid construction, AI is simultaneously entering real-world scenarios such as manufacturing, energy, logistics, defense, life sciences, and robotics. From 2026 to 2031, global AI capital expenditure surrounding computing, data centers, and electricity will reach approximately $7.6 trillion, with annual investment rising from $765 billion in 2026 to $1.64 trillion in 2031. Hyperscale cloud vendors may invest over $6 trillion in AI by 2030. The key to future competition will not only be models or chips, but also capital structure, energy supply, industry data, engineering capabilities, and deployment capabilities. (Cailian Press)
Goldman Sachs: The global humanoid robot market will grow from approximately 20,000 units in 2025 to 1.4 million units in 2035.
According to Mars Finance, Goldman Sachs stated that another path for AI to enter the real world is through robots, autonomous driving devices, drones, and intelligent industrial equipment. Goldman Sachs calls this "physical AI," which is far more challenging than text generation models because machines must not only understand language and images but also handle gravity, friction, materials, temperature, motion trajectories, and safety constraints. Humanoid robots are the most anticipated area. Goldman Sachs predicts that the global humanoid robot market will grow from approximately 20,000 units in 2025 to 1.4 million units in 2035. This demand is based on labor shortages: the US manufacturing sector employs approximately 13 million people, with a shortage of over 1 million material handling jobs. Goldman Sachs expects widespread commercial deployment of humanoid robots to not occur until 2027 to 2029. (Cailian Press)
Myanmar's AI-driven telecom fraud industry exposed: Starlink becomes key infrastructure, encrypted payments and OpenAI/Google models incorporated into toolchains.
A leaked investigative report from a Myanmar scam Odaily park reveals that global telecom fraud is rapidly evolving towards an "AI industrialization + cross-border encrypted payment" system. These fraud networks use cryptocurrencies to transfer funds and employ automated tools based on large models for multilingual script generation, identity spoofing, and emotional manipulation. The investigation shows that these systems heavily utilize OpenAI's ChatGPT and Google's Gemini to support "large-scale social media fraud," while funds are rapidly laundered and transferred through on-chain payments and cross-border channels, forming a two-tiered structure of "AI customer acquisition + encrypted settlement," enabling the fraud industry to achieve high automation and transnational expansion capabilities. Furthermore, Elon Musk's Starlink has become the leading network service provider in the Myanmar scam industrial park, with US ISPs handling nearly one-fifth of the park's traffic. In response to the allegations, OpenAI stated that fraudsters using ChatGPT behave in a manner highly similar to ordinary users, making identification difficult. However, they have been using behavioral pattern recognition and risk control systems to ban approximately 100,000 suspicious accounts monthly. Google stated that its AI models have security safeguards in place and emphasized its commitment to "responsible AI development" to limit the use of tools for fraudulent and other illegal purposes. (Red Star News)
Goldman Sachs injects a strong boost into South Korean stocks: another 20% rise in the second half of the year! Market leverage risk is overestimated, and opportunities will spread to six main themes.
According to BlockBeats, on July 6th, Goldman Sachs released its second-half strategy framework for the South Korean stock market, maintaining its 12-month target of 12,000 points for the KOSPI index, representing over 20% upside from current levels. The core support comes from a 320% year-on-year earnings growth forecast and a forward P/E ratio of only 6.65. This indicator is 2.7 standard deviations below its historical average, the lowest since 2009. In the first half of the year, South Korean stocks led Asia with a 92% gain, but this growth was primarily driven by upward revisions to earnings rather than valuation expansion: forward EPS was revised upwards by nearly 200%, while the forward P/E ratio actually compressed slightly. Samsung Electronics and SK Hynix contributed nearly 90% of the index's gains, with their combined market capitalization weight rising to 56% and their earnings weight reaching 72%. Goldman Sachs believes this concentration reflects earnings more accurately than a bubble, but market breadth has fallen to its lowest level since the pandemic, and continued gains in the second half of the year will likely lead to increased volatility. Regarding retail investor concerns, Goldman Sachs points out that leverage levels are overvalued. The growth in leveraged ETF size is primarily driven by asset appreciation rather than new leveraged funds. The margin loan-to-deposit ratio is actually declining, indicating that retail investors still hold substantial cash reserves and their asset allocation remains heavily focused on real estate. Goldman Sachs believes that opportunities in the Korean stock market in the second half of the year will expand from memory chips to six main themes: the industrial sector (accelerated defense orders, unmet demand for VLCC replacements), robotics and physical AI (Korea's auto parts ecosystem is expected to become a core supplier of humanoid robots), batteries and power infrastructure (driven by data center energy storage demand), beneficiaries of corporate governance reforms (multiple regulations implemented since July, with over 70% of listed companies having a PBR below 1), reflation trading (semiconductor profit spillover effects driving upward revisions to GDP and extending the interest rate hike cycle), and the semiconductor capital expenditure supply chain (the government plans to invest 800 trillion won in three major projects). Goldman Sachs also warns of three risks: seasonal weakness in the third quarter, technical correction pressure from a significant deviation of the index from the moving average, and amplified volatility due to hedging operations by leveraged ETF market makers. The combination of earnings growth and low valuations makes South Korea the market with the lowest PEG ratio in Asia, and the current valuation misalignment provides significant room for stock selection in the second half of the year.
MIRA, an open-source 5B multiplayer world model, uses DINOv3 representation to mitigate long-term drift and can simulate 2v2 battles in Rocket League in real time.
According to Beating, AI research firm General Intuition, in collaboration with French AI lab Kyutai and Epic Games, has launched MIRA, a multiplayer interactive world model. As a generative game simulator supporting real-time multiplayer interaction, MIRA can simulate 2v2 battles in Rocket League in real time, based solely on historical footage and player button presses, without requiring a physics engine, rendering engine, or explicit 3D representation for inference. Unlike the "decoupling of logic computation and image rendering" approach adopted by companies like Odyssey, MIRA takes a generative simulation approach based on video latent space. MIRA boasts 5 billion parameters, and its core design builds the latent prediction space on a frozen general-purpose visual encoder, DINOv3-L. Leveraging pre-trained visual features, the generated latent states can more stably fall within the effective representation space, significantly mitigating image drift and divergence during long-term prediction. For multi-screen alignment, MIRA stitches the latent images from four player perspectives into a unified grid, enabling spatial attention mechanisms to operate naturally across viewpoints and improving the spatial consistency of vehicles, the soccer ball, and key events across multiple perspectives. The Action Dropout introduced during training also helps the system complete the game behavior of vehicles not controlled by commands when parts of the motion flow are missing. Currently, MIRA can run in real time at 20 frames per second on a single NVIDIA B200 graphics card. The team has open-sourced the training and inference code and released the Rocket Science dataset, which contains 1,000 hours of matches, approximately 4,000 hours of video, motion flow, and physics data from four perspectives; the complete training of the model used approximately 10,000 hours of clean match data.
Goldman Sachs: Buy on dips in chip stocks, but avoid "buying a basket of chips" again.
According to Mars Finance, Goldman Sachs stated in its latest report on July 7th that semiconductor stocks still present investment opportunities after the recent pullback, but AI chip trading has entered a more selective phase, and investors should no longer simply buy the entire sector. The bank pointed out that the PHLX Semiconductor Index has risen by over 80% this year, significantly outperforming the S&P 500 and Nasdaq indices. This strong performance has raised the bar for subsequent earnings realization and made the risk-reward ratio more differentiated ahead of the Q2 earnings season. Goldman Sachs remains optimistic about certain sub-sectors, including CPUs, ASICs, memory, and semiconductor equipment. Goldman Sachs believes these areas will benefit more directly from the expansion of AI infrastructure and have relatively higher demand visibility. In terms of individual stocks, Goldman Sachs specifically mentioned AMD and Applied Materials. AMD benefits from server CPU and AI-related demand, while Applied Materials benefits from advanced process technology and memory capital expenditure. However, Goldman Sachs is more cautious about the mobile phone supply chain and some semiconductor companies with high valuations or weak demand.