Temasek grows portfolio to $401 billion, with AI investments as the key driver

Singapore's state investment fund Temasek Holdings published its financial-year results on July 8, 2026. Its net portfolio value crossed $400 billion for the first time, reaching S$518 billion ($401 billion). The main drivers were larger bets on artificial intelligence and expanded positions in North and South American markets.

Which bets paid off

Temasek has deliberately increased its exposure to the AI sector, and that strategy delivered a tangible return over the year. At the same time, the fund expanded its investments in the Americas. Together, these two moves pushed the portfolio through a historically significant threshold.

Key facts:

• Net portfolio value: S$518 billion ($401 billion) for the financial year
• Temasek crossed the $400 billion mark for the first time in its history
• The fund is wholly owned by the Singapore government
• The key growth drivers were AI investments and North and South American markets

Why sovereign funds are turning to AI

Temasek is one of Asia's largest state investors. Its increased AI exposure reflects a broader trend: large sovereign and pension funds around the world treat artificial intelligence technology as a priority long-term asset, not as venture-capital exotica. Temasek's portfolio growth shows that AI bets are already making a measurable contribution to results, even for conservative institutional investors.

The shift toward North and South America adds to that picture. Temasek has historically leaned toward the Asia-Pacific region, and its active diversification into American markets signals that a significant share of AI value is being generated there today.

What this means

Temasek's portfolio has passed $400 billion, and AI bets played a key role. For the market, it confirms that state investment funds are moving from cautiously watching the AI sector to actively building positions, and are already booking measurable returns from it.