GS Sharkey TMT Conference Essentials 8 Sep 2026

GS Sharkey - TMT Conference Essentials 8 Sep 2026 Ryan Sharkey · Goldman Sachs · Vice President, Global Banking & Markets, FICC & Equities Tue 8 Sep 2026, 6:55am ET

Our premier tech conference kicks off today Sep 8-11th in San Francisco. This is our biggest conference of the year with > 30k meeting requests and 260+ companies presenting.

The TMT backdrop has been a challenging one. In July and August, our Software vs. Semis pair (GSPUSOSE) rallied >50%, while our AI vs. AI-at-Risk pair (GSPUARTI) saw a peak-to-trough drawdown of -48%.

Could conference season be the catalyst to get the AI trade back on track? Outside of broader commentary around continued AI adoption (the demand side of the equation), we'll be watching for positive soundbites around compute pricing at the conference to help re-underwrite sentiment in the trade, with a bid-ask emerging from investors on the direction of both spot and contracted markets beyond 2026 (Listening to SPCX, neoclouds, hyperscalers and the fringe providers AKAM/DOCN).

• Getting Ahead of the 2026 Communacopia + Technology Conference

• Participating Companies: 260+ companies (~255+ in 2025)

• Institutional Investors registered so far: 2,160+ (up from 1,943 in 2025)

• Meeting Requests/breaking record at... 31,700+ (up from ~28,500 in 2025)

• Top 10 Requested: MSFT, DDOG, CRWV, SHOP, AVGO, AMD, NVDA, NBIS, TSM, NFLX

During the fall conference season, investor engagement tends to gravitate towards a subset of widely owned, high focus Technology stocks. Company presentations, investor meetings, and incremental disclosures can drive elevated engagement around a narrow set of stocks that already dominate investor mindshare, often reinforcing existing positioning.

Historically, this dynamic has been supportive of performance with the 10 most in-demand Technology stocks outperforming both broad-based market indices (SPXXAI) and broader tech stocks (GSXUTECH) in the week following the start of our annual Technology Conference.

GSCBTC10 captures this dynamic for the 2026 conference season. The basket is equally weighted and can trade $120m in a day at 10% participation.

Implementation: delta one or GSCBTC10 30Sep 105 115% call spreads cost 1.68%, 25d.

(TY Spahr, Lou Miller, Julia Masch, and Shreya Ghaie)

Tech Top 10 vs Top 500 ex AI (SPXXAI)

Tech Top 10 vs Tech (GSXUTECH)