Goldman Sachs Asset Management is expected to incur a loss of nearly $900 million on its investments in Northvolt AB, a Swedish battery manufacturer that has recently filed for bankruptcy protection.

This financial setback highlights the challenges faced by Northvolt as it goes through the bankruptcy process. It also emphasizes the risks associated with investing in emerging technologies and the volatility of the market.

The bank's private equity funds, which have approximately $896 million invested in Northvolt, will write off the entire amount by the end of the year.