CalPERS, the $600B US pension, debates AI investment risks amid boom returns
nordicinst · x · 2026-11-02
The New York Times reports that CalPERS, America's largest public pension with over $600B in assets, publicly debated AI investment risks at its September meeting. Long heavily invested in Amazon, Meta, Google and Nvidia with soaring returns benefiting 2M+ members, the board was rattled by an Anthropic researcher's resignation over existential AI fears. Board member Lisa Middleton questioned when to start weighing the downside, noting the market's unprecedented tech reliance — and millions of workers' retirement savings now hinge on the AI boom-or-bust.
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