Singapore’s state-owned investment company Temasek Holdings said it would prioritize investments in AI over crypto due to regulatory uncertainty and the lingering impact of a $275 million delisting following the collapse of crypto exchange FTX in 2022.
The company, with an investment portfolio valued at around S$518 billion ($400 billion), plans to increase its exposure to AI from 6% of its portfolio in the first quarter of 2026 to 15% by 2031, Nagi Hamiyeh, chairman of Temasek Global Investments, told CNBC on Wednesday.
Temasek, the state’s largest investment vehicle after GIC Private Ltd., is still dealing with the blow it suffered following the collapse of FTX. This implosion and other failures highlighted the weakness of consumer protection in Singapore, prompting the central bank, the Monetary Authority (MAS), to adopt stricter supervision, a move that led to, among other challenges, higher compliance costs and a slowdown in licensing.
