{"version":"1.0","type":"card","id":"3d2a7adc-f558-4e91-9860-a7d7561b1f90","url":"https://stacklist.com/card/3d2a7adc-f558-4e91-9860-a7d7561b1f90","title":"Goldman Sachs — What the Capex Boom Means for Stock Investors","source_url":"https://www.goldmansachs.com/insights/articles/what-the-capex-boom-means-for-stock-investors","note":"Peter Oppenheimer's mechanism: AI capital expenditure and government borrowing drawing on one pool of savings. He names the mechanism and pointedly declines to size AI's share of the move — a discipline worth copying.","image":{"url":"https://ucarecdn.com/62cebe45-e16e-4a09-9dd6-4d1ecc4d783c/","alt":"Goldman Sachs — What the Capex Boom Means for Stock Investors","width":1500,"height":1000},"stack":{"id":"0646d51e-dad0-4c1e-a033-869814d86f1c","title":"Signals Served #029 — The Cost of Capital Moved Somewhere Else","url":"https://stacklist.com/c/finance/stack/0646d51e-dad0-4c1e-a033-869814d86f1c"},"created_at":"2026-09-21T22:44:43.192Z","updated_at":null,"aco":{"summary":"Goldman Sachs Research analyzes how rising capital expenditures and higher interest rates are driving investors toward capital-intensive companies with physical assets and away from asset-light technology models. This shift, termed the \"post-modern cycle,\" represents a long-term regime change favoring sectors combining heavy capital requirements with technological innovation and tangible assets.","tags":["capex","stock-investors","capital-intensive","goldman-sachs","investment-regime","infrastructure","ai"],"key_entities":[{"name":"Goldman Sachs","type":"organization","confidence":0.99},{"name":"Peter Oppenheimer","type":"person","confidence":0.95},{"name":"post-modern cycle","type":"concept","confidence":0.9},{"name":"artificial intelligence","type":"technology","confidence":0.92},{"name":"capital-intensive companies","type":"concept","confidence":0.88},{"name":"asset-light models","type":"concept","confidence":0.85}],"classification":"analysis","language":"en","confidence":0.85,"provenance":{"model":"claude-haiku-4-5","tool":"@stacklist/be@0.1.0","confidence":0.85,"timestamp":"2026-09-21T22:44:47.910Z"},"token_counts":{"approximate":2291,"cl100k":1657},"content_hash":"sha256:d69908f8bd44256cdd5d3f8554d8972f872137c5ce364a9365d0b4d5156206bb","acp_version":"0.2","body_available":true,"body_tokens":2291,"visibility":"public","agent_accessible":true,"status":"final"},"_links":{"self":"/api/public/card/3d2a7adc-f558-4e91-9860-a7d7561b1f90.json","html":"https://stacklist.com/card/3d2a7adc-f558-4e91-9860-a7d7561b1f90","md":"/api/public/card/3d2a7adc-f558-4e91-9860-a7d7561b1f90.md","stack_json":"/api/public/stack/0646d51e-dad0-4c1e-a033-869814d86f1c.json"}}