The Business Times
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HOCK LOCK SIEW

​Singapore’s sovereign wealth funds are betting big on AI, but the central bank isn’t so sure

Having MAS that worries out loud and two reserve funds that hedge while they buy might be the most sensible set-up available

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Jude Chan

Jude Chan

Published Mon, Aug 10, 2026 · 03:22 PM
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    • Global growth and equity valuations now depend heavily on a handful of firms’ enormous bets in artificial intelligence, warns MAS managing director Chia Der Jiun.
    • Global growth and equity valuations now depend heavily on a handful of firms’ enormous bets in artificial intelligence, warns MAS managing director Chia Der Jiun. PHOTO: REUTERS

    [SINGAPORE] Within three weeks in July, three of Singapore’s most consequential financial institutions delivered very different verdicts on the future.

    ​Temasek and GIC, the twin sovereign wealth funds that manage the bulk of the Republic’s reserves, used their annual results to explain why they intend to lean into artificial intelligence.

    ​Then the Monetary Authority of Singapore (MAS) weighed in and – in the flattest language a central bank can manage – wondered whether anyone had checked the odds on this bet.

    CommentaryMonetary Authority of SingaporeGICTemasekArtificial Intelligence

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