Asian and Gulf Capital Is Funding North America’s Compute Build, With Risk Concentrated in Five Firms

Foreign banks, pension funds, sovereign wealth funds and insurers from Asia and the Gulf are increasingly funding AI computing capacity in North America, JPMorgan Asset Management’s Charles Wu told the SuperReturn conference in Singapore. Capital expenditure in the sector stands at almost $1 trillion. “Compute training assets are still largely in North America,” said Wu, the bank’s head of Asia Pacific alternatives institutional client strategy.