Investors Ask Who Benefits—and Who Endures

Asian institutional investors are widening their AI lens from model makers to companies that can benefit from the technology without being easily displaced by it. At Reuters NEXT Asia, Temasek said it aims to raise AI exposure, while fund managers stressed durable cash flows, infrastructure economics, and the risk that heavy spending may not produce commensurate returns. The comments mark portfolio caution, not a verdict that the AI investment cycle has ended.