Temasek, the worldwide funding firm headquartered in Singapore, is planning to take a position as much as USD 30 billion within the “incredibly deep and broad capital market” of america of America. The sectors being thought of for this 5-year funding plan embrace well being care and fintech.
Not solely is the US financial system on a development trajectory, but additionally cutting-edge work in Synthetic Intelligence (AI) is being carried out within the nation. Temasek is “particularly interested” in AI-driven fields, in response to a report revealed yesterday by the information company Reuters.
Furthermore, Temasek has seen substantial returns on its investments within the US and in India, in distinction to the comparatively weak RoI from China. A Temasek media launch in early July 2024 mentioned: “The increase [in net portfolio value] was mainly due to our investment returns from the US and India, offset by the underperformance of China’s capital markets.”
Additionally learn: Temasek experiences SGD 389 billion Web Portfolio Worth in FY24, up by SGD 7 billion from FY23, based mostly on RoI from US and India
Talking to Reuters, Jane Atherton, Head of North America at Temasek, mentioned, “It’s an incredibly deep and broad capital market in the US. The US is really at the forefront of everything that’s happening from the AI perspective.”
Reuters reported: “The US economy grew faster than expected in the second quarter and continues to outperform its global peers. Despite recent turbulence, the S&P 500 (.SPX) is up 14.5% this year in a rally driven in part by excitement over Artificial Intelligence.”
On this context, China reported “weaker-than-expected growth” in July and lower rates of interest to spice up its financial system, added Reuters.
The information company mentioned that within the final monetary 12 months — “for the first time in a decade” — the Singapore-based Temasek let its publicity to the Americas (22 per cent) surpass its publicity to China (19 per cent).
Areas associated to AI that curiosity Temasek are information centres, semiconductors, and battery storage.
