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
[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.
TRENDING NOW
DBS, OCBC, UOB rout lops billions off STI as inflation, rate concerns spook investors
Grab CEO’s wife Chloe Tong on life with Anthony Tan and finding her purpose
OCBC sheds S$8 billion in value as shares close nearly 6% down; analysts cautious on banks
Deal between tycoon friends sparks scrutiny of Philippine power sector
