Goldman Sachs Says Semiconductor Sector's Influence on Asset Prices Has Surpassed Oil Prices

Goldman Sachs research shows that over the past three weeks, divergence in the semiconductor sector can explain about 54% of the performance divergence across various assets, while oil prices can explain only 2%. Goldman Sachs says AI has become a powerful force in financial markets, and investor sentiment is increasingly correlated with tech stocks. After Anthropic filed for an IPO, the Nasdaq and S&P 500 both rose about 1%, and the Philadelphia Semiconductor Index rose about 3%; the rally then spread to Asian markets, with the KOSPI rising as much as 5% during intraday trading.