Singapore’s state-owned investment firm Temasek Holdings said it will prioritize AI investments over crypto due to regulatory uncertainty and the lingering impact of a $275 million write-off from the 2022 collapse of crypto exchange FTX.
The firm, with an investment portfolio of about 518 billion Singapore dollars ($400 billion), plans to increase its AI exposure from 6% of its portfolio in the first quarter of 2026 to 15% in 2031, Nagi Hamiyeh, president of Temasek Global Investments, told CNBC on Wednesday. of the industry has preceded fundamentals.
Temasek, the state’s biggest investment vehicle after GIC Private Ltd., is still dealing with the hit it took after the collapse of FTX. That implosion and other failures exposed weak consumer protections in Singapore, prompting the central bank, the Monetary Authority (MAS), to move toward stricter oversight, a move that resulted in higher compliance costs and slower licensing, among other challenges.
