CalPERS Cuts Big Tech Exposure Amid AI Valuation Concerns
Edited by Steinar Vigdel Kolnes, Editor, Oslo
California’s pension fund is shifting toward private equity as questions over tech valuations and rising AI costs weigh on neocloud stocks.
CalPERS, California’s public pension fund, is reducing its exposure to major technology companies while shifting toward private equity, according to CoinDesk.
The move comes as investors scrutinize technology valuations and question whether sharply higher spending on artificial intelligence will deliver sufficient returns.
Those concerns are also weighing on neocloud companies, which provide cloud infrastructure for AI workloads, deepening a sell-off in the sector.
Source: CoinDesk