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A SMART LOOK AT INVESTING

The SaaS apocalyse: When fear does the thinking

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    • As investors, we should always ask: Are we reacting to what has happened, or to what we fear might happen?
    • As investors, we should always ask: Are we reacting to what has happened, or to what we fear might happen? PHOTO: BLOOMBERG

    Chin Hui Leong

    Published Tue, Feb 10, 2026 · 04:41 PM

    THE stock market can’t make up its mind. On the one hand, it is fretting over the hundreds of billions of dollars being spent on artificial intelligence (AI) infrastructure.

    Tech giants such as Amazon, Alphabet, Meta Platforms and Microsoft have collectively earmarked more than US$600 billion in capital expenditure for 2026 alone, a figure that comfortably surpasses Singapore’s entire gross domestic product.

    Investors are asking: Will all this spending ever pay off?

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    Few cities in the world can match Singapore’s network of parks and trails where people can walk, run and cycle from early morning to late evening in such a safe environment, says the writer.

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