Goldman Sachs sees artificial intelligence investment and growing deal activity in Japan and India helping shape Asia’s economic and financial outlook. As businesses worldwide increase spending on AI infrastructure, the region is attracting attention for its role in technology supply chains, financial markets, and corporate investment.
Kevin Sneader, Goldman Sachs’ Asia-Pacific president excluding Japan, highlighted momentum across Japan, India, and China during a Bloomberg interview on October 14, 2026. His comments point to the growing influence of AI-related spending on business opportunities across the region. citeturn106469search2turn106469search5
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AI Infrastructure Creates New Opportunities
The global expansion of artificial intelligence is driving investment in computing capacity, data centres, semiconductors, and supporting infrastructure. These projects require substantial funding, creating opportunities for financial institutions to support companies through capital raising, lending, and strategic transactions.
Goldman Sachs has also highlighted the financing potential of AI infrastructure, while noting that larger and more complex funding requirements require careful risk assessment. citeturn106469news6
Across Asia, the benefits are expected to vary depending on each economy’s technological capabilities, industrial base, and position within the AI supply chain.
Japan Benefits From Technology and Industrial Strength
Japan is positioned to benefit from investment in semiconductor equipment, precision machinery, industrial automation, and other technologies that support AI development.
The country’s established manufacturing base and advanced industrial expertise can help meet rising demand for the equipment and systems needed to expand computing infrastructure.
Increased corporate investment and deal activity may also create opportunities for financial institutions involved in mergers and acquisitions, financing, and capital markets.
India’s AI-Enabled Businesses Attract Attention
India is also emerging as an important market in the wider AI investment story. Although the country’s technology industry has traditionally been associated with IT services and software, AI adoption is creating opportunities across several additional sectors.
Goldman Sachs has identified 42 Indian listed companies it considers AI enablers, including businesses connected to areas such as power, data centres, and semiconductors. The group has attracted attention as investors look beyond conventional technology companies to identify businesses supporting AI infrastructure. citeturn106469news9
AI could also create opportunities in sectors such as agriculture, where technology may support improved productivity, resource management, and decision-making. Turning this potential into sustained growth will depend on investment, infrastructure, and successful adoption by businesses.
China Remains Part of the Regional Growth Picture
China continues to play a significant role in Asia’s technology and manufacturing ecosystem. Its industrial capacity and involvement in electronics production make it an important part of the broader AI infrastructure supply chain.
However, opportunities differ across Asian economies, and market performance will depend on factors including domestic demand, investment conditions, technological competitiveness, and investor confidence.
The region’s growth outlook is therefore not uniform: countries with strong links to AI-related capital expenditure may benefit differently from those relying more heavily on services or domestic consumption.
Why Goldman Sachs’ Outlook Matters
1. AI Is Expanding Beyond Software
AI investment increasingly involves physical infrastructure, including computing systems, energy supply, data centres, and advanced equipment. This creates opportunities for companies across multiple industries.
2. Japan and India Offer Different Strengths
Japan brings industrial and manufacturing expertise, while India offers a broad technology services sector and growing businesses that support digital infrastructure. Their opportunities reflect different roles in the AI economy.
3. Deal Activity Could Support Financial Markets
As companies seek funding for expansion, demand may increase for equity offerings, debt financing, mergers and acquisitions, and other investment-banking services.
AI-related investment is capital-intensive, and expected returns are not guaranteed. Financing costs, market volatility, execution challenges, and the possibility of slower-than-expected demand could affect future growth.
Goldman Sachs’ outlook highlights how artificial intelligence investment and corporate deal activity are creating new opportunities across Asia. Japan’s industrial capabilities and India’s expanding ecosystem of AI-enabling businesses could both benefit as demand for computing infrastructure grows. The scale of the opportunity, however, will depend on how effectively companies convert investment into sustainable business growth amid changing market conditions.
