Singapore's Temasek investment fund says crypto is off the table, will focus on AI
Singapore's state-backed investment firm Temasek has announced a strategic pivot away from direct cryptocurrency investments to focus heavily on artificial intelligence. The firm plans to increase its AI portfolio exposure from 6% to 15% by 2031, citing long-term growth potential despite concerns over current market valuations.
The firm, with an investment portfolio valued around 518 billion Singapore dollars ($400 billion), plans to increase its AI exposure from 6% of its portfolio in the first quarter of 2026 to 15% by 2031, Nagi Hamiyeh, president of Temasek Global Investments, told CNBC on Wednesday The AI investment cycle has just begun and will continue for decades, he said, while cautioning that valuations in some parts of the industry have run ahead of fundamentals.
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