Caixin Media News on October 12th (Editor Huang Junzhi) In the current artificial intelligence (AI) boom,$NVIDIA (NVDA.US)$it is undoubtedly the biggest beneficiary, followed closely by one technology giant after another. With the continuous development of technology and the emergence of various applications, investors are undoubtedly most concerned about who the next batch of beneficiaries will be?

In a recent report, Goldman Sachs stated that with the rebound of artificial intelligence investments after cooling off this summer, a new batch of stocks will benefit from the flourishing cash inflow into the artificial intelligence industry.

Goldman Sachs analysts stated that in the next round of artificial intelligence investments, investors should not only focus on obvious choices like nvidia and AI infrastructure companies, but rather select a range of platforms aimed at building direct applications of artificial intelligence.

"Our stock analysts believe that 'platform' stocks including databases and development tools will be the major beneficiaries of the next wave of artificial intelligence investment boom. These platforms can fully utilize artificial intelligence infrastructure, while providing building blocks for building the next generation of applications," they wrote in the report.

Analysts believe,$Microsoft (MSFT.US)$,$Datadog (DDOG.US)$Database management system.$MongoDB (MDB.US)$Software company.$Elastic (ESTC.US)$And.$Snowflake (SNOW.US)$When launching artificial intelligence integrated applications, it is positioned as the best "platform stock".

Goldman Sachs stated that despite the recent downturn in the fundamentals of many 'platform stocks' this year due to soft underlying factors, their valuations are at historical lows and are stabilizing as artificial intelligence investments rebound.

At the time of the above suggestions, investors are still focusing on nvidia and companies building artificial intelligence infrastructure, such as semiconductors, cloud providers, and datacenters.Real Estate Investment TrustFunds. Goldman Sachs said that the stock prices of these stocks may continue to rise, but their returns will be driven more by profits rather than valuations.

"Expected future returns may be limited by the initial valuation increase, although valuations have always been a poor short-term signal for large cap stocks." They added that due to the lower rate of increase in artificial intelligence spending compared to the past, this could make returns on "second-stage" artificial intelligence infrastructure stocks more moderate.

Overall, Goldman Sachs believes that platform stocks are an exception among other "third-stage" stocks, as the timing of artificial intelligence monetization remains uncertain. "Third-stage" stocks refer to those stocks that have the potential to monetize artificial intelligence by generating incremental revenue from software and IT services.

Analysts say the same is true for "fourth-stage" stocks, those companies that will benefit from widespread adoption, as this may take several more years.

"We believe that launching applications in third-stage stocks is a necessary condition for investors to have confidence in holding fourth-stage stocks, as these stocks stand to gain the most from artificial intelligence-related productivity gains." The analyst wrote.

Editor/ping