Goldman Sachs Notes Private-Market Valuations Drop, Nvidia Stock Reflects GPU Share Loss
GS•Mutual funds including Goldman Sachs took double-digit markdowns on privately held software assets, signaling a contraction in private-market valuations that could trim GS’s asset-management fees. Goldman Sachs analysts also said Nvidia’s current share price already incorporates recent GPU market-share losses, leaving limited upside from here.
1. Mutual Fund Software Markdowns
Goldman Sachs‐managed and other mutual funds have reduced valuations on privately held software holdings by double-digit percentages in recent quarters. These markdowns highlight deteriorating private-market pricing and raise concerns over lower performance fees and reduced asset‐management revenue for GS.
2. Nvidia Analysis
Goldman Sachs equity analysts maintained a neutral stance on Nvidia, stating the stock’s current valuation already reflects the chipmaker’s recent decline in GPU market share. They see limited upside potential unless Nvidia can regain share or deliver better‐than‐expected product cycles.
