This is the early stage of the biggest tech transformation in decades, says Goldman's Brook Dane

Market Overview - Nvidia's $4 trillion market cap highlights the market's focus on tech, particularly AI [1][3] - The AI transformation is still in its early stages and is expected to persist for a long time [3] Investment Strategy - Active management in tech is crucial, as demonstrated by Nvidia's 30% drawdown and subsequent 60% rise, which passive indexes couldn't capitalize on [2][3] - Investors need exposure to the tech sector and guidance in selecting the right companies throughout different market cycles [4] - The AI opportunity set is divided into three areas: infrastructure, data & security, and applications [7] - Investors are encouraged to increase exposure to the data and security layers within their portfolios [9] Competitive Landscape - Nvidia currently captures 60% of every capital expenditure dollar spent on AI due to its rapid innovation [4] - The market is expected to become more competitive over time, creating new opportunities for investors [5]