Goldman Sachs Launches AI-Free Index
(Friday February 20, 2026 @10:30PM (BeauHD)
from the hedge-your-bets dept.)
- Reference: 0180833336
- News link: https://news.slashdot.org/story/26/02/20/2134238/goldman-sachs-launches-ai-free-index
- Source link:
Goldman Sachs has launched an "S&P ex-AI" index (SPXXAI) that [1]tracks the S&P 500 stocks not related to AI , offering investors a way to "hedge their exposure to the AI trade," reports Axios. From the report:
> "Excluding 'AI enablers' from the passive benchmark would eliminate the noise introduced by the AI hype," Louis Miller, head of the firm's equity custom basket desk, wrote in a note to clients about the new index.
>
> The ex-AI index is a compilation of all the stocks in the S&P 500 that are not related to AI, also referred to as old-economy stocks. It's available exclusively to Goldman customers, created in collaboration with S&P Dow Jones Indices.
>
> Taking all the AI out of the S&P doesn't leave much behind, as AI companies make up ~45% of the index, according to the note. Over the last three years, the S&P 500 is up 76%. The ex-AI index is only up 32% in that same time period.
[1] https://www.axios.com/2026/02/20/ai-goldman-sachs-stocks-index
> "Excluding 'AI enablers' from the passive benchmark would eliminate the noise introduced by the AI hype," Louis Miller, head of the firm's equity custom basket desk, wrote in a note to clients about the new index.
>
> The ex-AI index is a compilation of all the stocks in the S&P 500 that are not related to AI, also referred to as old-economy stocks. It's available exclusively to Goldman customers, created in collaboration with S&P Dow Jones Indices.
>
> Taking all the AI out of the S&P doesn't leave much behind, as AI companies make up ~45% of the index, according to the note. Over the last three years, the S&P 500 is up 76%. The ex-AI index is only up 32% in that same time period.
[1] https://www.axios.com/2026/02/20/ai-goldman-sachs-stocks-index
An index fund? (Score:4, Funny)
by newslash.formatblows ( 2011678 )
...out of three stocks?
Re: (Score:2)
by ffkom ( 3519199 )
I certainly want to see the constituent list. The "not AI related" criterion may be a very vague one.
Re: (Score:2)
by EvilSS ( 557649 )
It's technically "US 500 Excluding Artificial Intelligence Enablers Price Return Index" so I'm guessing it's sans most chip makers, hyperscalers, nvidia, and a bunch of other big tech stocks. Looks like they launched it out today but I can't find a prospectus. Probably not a bad hedge considering how heavy so many funds are in big tech stocks right now.
Re: (Score:2)
by martin-boundary ( 547041 )
War against the US will come soon enough. It makes sense to have an index with a higher defense industry weighting.
Re: (Score:2)
by igreaterthanu ( 1942456 )
A better bet is probably "S&P 500 Minimum Volatility Index" or similar rather than just ignoring chip makers, etc.
Old Economy (Score:5, Insightful)
Non-AI stocks are now just the "old economy"? Maybe we should, maybe, wait until any AI company at all has actually made a cent of profit before we call them the "new economy" and relegate the companies who make real money and things the "old economy".
Re:Old Economy (Score:5, Interesting)
Let em cook. We're months off from a massive AI induced stock market crash at most. OAI will die, because its one of the most ludicrously overvalued company with literally no path to profitibility. When that happens, everyone else in the circle-jerk financing scheme will flee and shed a tonne of value.
Then we can put this AI nonsense on hold for a couple of decades till the wonks figure out its problems.
Re: (Score:3)
Actually many AI companies are doing very well, just not the ones that get the news. AI has enabled robotics to do things like sort recycled trash and package croissants without making a crumb, plan Amazon delivery routes more efficiently, and translate dozens of languages on the fly. They're not valued in the billions, but they're viable profitable companies with rational business plans for the future. Can Boston Robotics AI program carry on a conversation with you? Hell no, but then ChatGPT couldn't t
Re: (Score:2)
Lawsuits are flying from unauthorized use of copyrighted works to train the LLMs, communities are uniting to block data center construction, audiences are fiercely rejecting AI-generated content in various forms of media, prestigious law firms are getting slapped-down by judges for using AI-generated hallucinations in their court filings, students are using it to cheat on homework, creative workers of all varieties hate it for the threat it poses to their job security, and the world is drowning in slop.
It i