[Goldman Sachs: Hong Kong Market Has Entered the AI Era, Equity Financing Scale Expected to Reach New Highs This Year] BlockBeats News, July 14 — Wang Yajun, Head of Equity Capital Markets for Goldman Sachs Asia (excluding Japan), stated that the Hong Kong market has entered the AI era, but major stock indices have yet to fully reflect the influence of AI companies. This discrepancy explains the contrast between the booming IPO financing activity and the relatively subdued performance of secondary market indices this year. Wang Yajun predicts that by 2026, Hong Kong's total equity financing and IPO financing scale are both expected to reach new highs. So far this year, AI has become the most active investment theme in the Hong Kong stock market. The most actively traded, best-performing, and largest-scale financing stocks are all related to AI, although adjustments to index components have lagged behind. Regarding valuations in the AI industry, Wang Yajun believes that the continuous growth in AI demand will drive further capital expenditures in infrastructure such as computing power, chips, and storage. Currently, there is still room for growth in industry capital expenditures. As China's AI industry chain continues to improve, it is expected that more AI companies will seek listings in Hong Kong or on the STAR Market in the second half of the year. [Original Link]