Singapore's state investment fund Temasek Holdings, which manages approximately $400 billion in assets, is officially shifting its priorities. The fund's president, Nagi Hamiye, announced a pivot from digital assets toward artificial intelligence. The key reasons behind this decision are regulatory uncertainty and a painful lesson learned from the collapse of the FTX exchange, which cost Temasek $275 million.
This move is not merely a reaction to losses but a deliberate strategic reorientation. Temasek plans to increase the share of AI assets in its portfolio from the current 6% to 15% by 2031. The fund intends to actively invest in the infrastructure, development, and application of artificial intelligence technologies, seeing this as a more stable and predictable source of long-term returns.
Blockchain remains, but in a supporting role
It is important to note that Temasek is not completely abandoning blockchain. The fund's leadership emphasizes that it will continue to explore the application of distributed ledger technology in the real economy. However, these studies will be more experimental in nature and will not become the main driver of investment policy.
My analysis: Temasek's decision sends a clear signal to the market that even large institutional investors are tired of the volatility and legal risks of the cryptocurrency sector. AI, on the other hand, offers a more mature and regulated landscape. For the crypto industry, this is a wake-up call: without clear rules of the game and security guarantees, the inflow of "smart money" will flow into other technologies.