Goldman Sachs' $10 Billion Target

Goldman Sachs Group, Inc. (NYSE:GS) is currently emerging as one of the best blue-chip stocks to buy. According to reports emerging on October 27, Goldman Sachs has begun discussions with the Kuwait Investment Authority. The investment bank is seeking to secure a $10 billion mandate to strengthen its asset management arm.

The American investment bank aims to secure $10 billion across multiple funds over the next few years. The discussions with Kuwait's wealth fund come during a period where Goldman Sachs is accelerating its push into private markets and alternative asset businesses.

This expansion is part of efforts to shift away from the traditional revenue mix of trading toward investment banking. While presenting third-quarter results, CEO David Solomon reiterated plans to add $100 billion in areas such as alternative assets, real estate, hedge funds, and private credit.

Meanwhile, on November 4, Barclays analyst Jason Goldberg issued an “Outperform” rating on the stock, setting a price target of $850 for the shares.

Goldman Sachs Group, Inc. (NYSE:GS) is a leading investment banking, securities, and investment management firm. However, while acknowledging Goldman Sachs' investment potential, we believe that some artificial intelligence (AI) stocks offer greater upside potential with less downside risk.