Intel Raises 2026 Capex by $3B, Goldman Sachs Sees Buying Opportunity in Japan AI Semiconductor Stocks on July 29

According to Goldman Sachs' latest strategy report on July 29, Japan's AI semiconductor stocks experienced a sharp selloff that creates a buying opportunity, with strong earnings prospects expected to revive investor interest in semiconductor equities. The catalyst is Intel's increase in 2026 capital expenditure guidance by approximately $3 billion, with the company signaling significantly higher spending on wafer fabrication equipment.

Goldman Sachs noted that Intel's acceleration of advanced process capacity ramp-up (18A and 14A nodes) and advanced packaging investments will directly drive orders for highly correlated Japanese equipment suppliers. The bank highlighted Lasertec as its top pick with a buy rating, citing direct exposure to Intel's advanced process push, while also maintaining buy ratings on Tokyo Electron and recommending Disco based on its exposure to Intel's expanded EMIB-T advanced packaging capacity plans.