CalPERS, the largest US public pension fund, debated the risks artificial intelligence poses to its portfolio and to humanity. The discussion was triggered by the 2026 resignation of Anthropic researcher Jacob Coxon, who accused major technology companies of rushing toward superintelligence and endangering humanity. The board considered whether to advocate for AI regulation or even a pause in AI development. Meanwhile, the fund cut its holdings in the Magnificent Seven technology stocks by 26% in the first half of 2026 and reduced its Nvidia stake by nearly 40%, from 76.4 million to 46.1 million shares. In October 2026, labor groups also urged CalPERS to oppose a potential Anthropic IPO, citing safety and governance concerns.
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