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At the Toronto Global Forum, Aviva Investors’ chief investment officer Daniel McHugh said that the insurer’s asset management arm is taking steps to ensure that its portfolio is diversified to head off AI bubble concerns. He predicted his peers might be “quite horrified” by how much of their portfolios are concentrated in the AI industry. (The Logic)
Talking point: While some investors are alarmed about circular AI funding deals and the falling price of data-centre financing bonds, others remain bullish. Ibrahim Alhosani, director of UAE Investments, at Mubadala, said he is interested in investing in projects related to keeping data centres cool. Meanwhile, Tim Deacon, the chief financial officer of Sunlife, said the market has built an “addiction” to AI deals, but warned that there is uncertainty surrounding how much costs could rise for data centre companies in the coming years.
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