Goldman Sachs Picks Three Asian Currencies for an AI Boom

Goldman Sachs is betting big on the South Korean won, the Taiwan dollar, and the Malaysian ringgit. The bank believes these currencies will outperform because the massive investment in artificial intelligence is driving a need for tech exports. These nations are key players in the semiconductor supply chain, which gives them a unique edge in the current market.

While these currencies have technically dipped against a strong US dollar so far in 2026, they are still performing better than other regional currencies. Energy importers, such as the Thai baht and the Indonesian rupiah, have seen steeper losses as oil prices and market conditions weigh on their trade balances. Goldman views the current divergence as a direct result of how countries handle AI capital spending versus energy supply shocks.

For investors, the situation highlights a clear split in Asian markets. The bank suggests that as long as money continues to pour into AI technology, these three currencies could stay resilient. However, traders should watch for any signs that global tech spending is slowing down, as that would likely change the outlook for these specific assets quickly.

Looking ahead, Goldman expects the South Korean won to benefit from a significant current account surplus. Meanwhile, Taiwan is expected to see strong support from its massive semiconductor trade. The Malaysian ringgit is also being highlighted for its steady export growth and foreign investment. Keep an eye on how these trade balances shift as the year progresses.