**[Goldman Sachs: S&P 500 Expected to Surge to 8,000 Points, Stock Demand Will Continue to Outweigh Supply]** BlockBeats News, August 10 — Goldman Sachs partner and U.S. Head of Equity Execution Services John Flood stated that despite U.S. equity issuance expected to reach a record high in 2026, stock demand will continue to outweigh supply, with the S&P 500 index likely to rise further to 8,000 points. Last Friday, the S&P 500 closed at a record high of 7,757 points, marking the 26th all-time high this year. Goldman Sachs projects that total U.S. equity issuance in 2026 will reach approximately $700 billion, including IPO issuance slightly exceeding $225 billion and other issuances around $450 billion. Although the total volume will set a record, it will account for only about 1% of the Russell 3000 Index's market capitalization, roughly in line with the historical average from 2015 to 2019. The current issuance scale is closer to market normalization rather than excessive exuberance. Meanwhile, stock buybacks remain a key driver of market demand. U.S. companies have authorized $989 billion in buybacks year-to-date, setting a new record. Goldman Sachs estimates that total open-market stock buybacks in 2026 will reach $1.4 trillion, significantly exceeding the approximately $700 billion in primary market issuance. Even when considering potential additional supply from post-IPO lock-up expirations, demand is still expected to surpass supply. The current growth in equity issuance is primarily driven by demand for AI investments, with AI-related issuances accounting for about 40% of U.S. follow-on offerings. As capital expenditures by mega-cap tech companies are projected to exceed $1 trillion annually over the next few years, other companies may also seek financing to support AI investment plans. However, Goldman Sachs expects that external financing for mega-cap tech companies will remain predominantly debt-based, with equity financing playing more of a supplementary role.