Temasek’s investment chief Rohit Sipahimalani has identified artificial intelligence and inflation as the two main risks for global markets. His concern centers on heavy US capital expenditure into AI infrastructure, warning that if expected returns fail to materialize, valuation pressure could trigger significant market disruption. Despite these warnings, Temasek plans to raise its AI-related investments from approximately 6% to 15% of its portfolio by 2031. The firm’s net portfolio value hit a record S$518 billion (approximately US$401 billion) as of March 31, 2026, a 10.5% increase year-over-year. Singapore’s central bank, MAS, revealed that 32% of Singapore-listed firms could face significant revenue shocks in a severe AI downturn.
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