A Goldman Sachs Asset Management fund manager is joining bullish calls on semiconductor shares, expecting a boost from data centers and ChatGPT.
"The semiconductor industry is a growth industry,” said Ichiro Kosuge, who manages the GS Japan Focused Growth Fund that’s outperforming 96% of its peers this year. "While we understand that the near-term outlook may be challenging, we believe data centers and automotive semiconductors will drive growth going forward.”
Kosuge said he’s backing companies that can keep up with the global semiconductor industry’s expansion even after a decline in the number of Japanese chipmakers. Top holdings in the fund include Advantest, which is up 36% this year compared with the Topix’s 7.6% advance. It also owns shares of Hoya and Shin-Etsu Chemical.