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Equable Analysis: State and Local Pension Funds Have at Least $578 Billion Invested in AI Companies

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AI-related companies make up 35.1% of reported public pension equity holdings as of June 30, 2026; a new interactive breaks out exposure by pension fund

NEW YORK, Nov. 4, 2026 /PRNewswire/ — State and local pension funds have between $578.1 billion and $706.6 billion invested in AI-related companies, according to an analysis released today by Equable Institute. This accounts for 9% to 11% of the total $6.42 trillion in state and local pension assets, as of June 30, 2026. Equable considers this range a conservative, lower-bound estimate.

As of June 30, 2026, the 51 largest publicly traded AI-related companies made up 35.1% of all reported public equity investments by state and local pension funds. The Magnificent 7 account for 63.3% of all public AI-related holdings. NVIDIA ($47.3 billion), Apple ($42.5 billion) and Microsoft ($28.2 billion) are the largest AI-related holdings across the pension funds measured. 

Alongside the media brief, Equable has published an interactive that breaks down the $396 billion in AI-related stock holdings directly reported by the largest funds from the portions of the estimate that are not reported by name. The interactive also details AI-linked public equity fund exposure for these pension funds, where public data is available. 

“Given the growing concentration of public pension assets in AI-related investments, it is important to know the full scope of exposure that state and local retirement systems have to future changes in the value of AI-companies. However, the lack of complete transparency on public and private pension fund investments means we can only estimate the potential upsides or downsides of what comes next in the AI-trade,” said Anthony Randazzo, executive director of Equable Institute. “Every public pension fund should be doing an internal audit of their own AI-exposure and making public the findings. A positive economic outcome from the emergence of AI could meaningfully stabilize public pension plans; but a negative event like an AI-bubble bursting could cause very meaningful losses that stakeholders should be aware of.”

Explore the data

The interactive splits the $706.6 billion estimate into three parts: $396 billion in AI-related stock that 24 of the 25 largest funds report directly, about $180 billion in public stock not reported in detail, and about $130 billion in private equity and corporate debt. Users can pick any of the 24 funds to see each AI-related company it holds, in dollars and as a share of assets. A separate view shows AI-linked private equity funds that the 25 largest pension funds have invested in, as confirmed in each pension fund’s own documents. 

Read the media brief here.Explore the interactive here.

About Equable Institute
Equable Institute is a bipartisan nonprofit dedicated to making public retirement systems work. We sit at the intersection of retirement policy and broader public policy, equipping policymakers, public employees, and retirement plan managers with independent, data-driven research, analysis, and education.

Equable.org | Twitter: @EquableInst | Facebook: @EquableInstitute | Instagram: @EquableInst

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SOURCE Equable Institute

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Malaysia-China (Chengdu) Collaboration Opens New Doors for Local Businesses and Talent

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Technology partnerships explored in Kuala Lumpur could support Malaysia’s digital transformation, strengthen local capabilities and create new commercial opportunities.

KUALA LUMPUR, Malaysia, Nov. 6, 2026 /PRNewswire/ — Malaysian businesses and innovation organisations explored opportunities to strengthen their technology capabilities and develop new partnerships at a Malaysia–China (Chengdu) technology matchmaking event held in Kuala Lumpur, organised by Intrinsic SEA Sdn Bhd as part of the organising team.

Bringing together nearly 100 representatives from local businesses and innovation organisations alongside 10 Chengdu technology companies, the event focused on artificial intelligence, new energy, the digital economy and technology commercialisation.

For Malaysian participants, the central opportunity was to identify technologies suited to local needs, connect with potential implementation partners and explore collaborations that could benefit businesses, entrepreneurs and the wider workforce.

Hosted by the Chengdu Municipal Science and Technology Bureau and organised by the Tianfu International Technology Transfer Centre, with support from the Southeast Asia Advanced Manufacturing Science and Technology Council, the programme featured industry presentations, technology showcases, partnership signings and targeted business discussions.

Putting Malaysian Industry Needs First

Technology cooperation delivers value when it responds to the needs of the market in which it will be used. Discussions at the event therefore provided an opportunity for Malaysian participants to share their priorities and assess how proposed solutions might work locally.

Mohd Safuan Mohd Zairi, Chief Ecosystem Officer of the Malaysian Research Accelerator for Technology and Innovation (MRANTI), outlined Malaysia’s industry landscape and cooperation opportunities. He highlighted the potential to connect technology with practical applications through local innovation platforms and advance commercialisation.

Chengdu representatives introduced their city’s innovation ecosystem, while a presentation on Shuangliu district covered its aviation hub, research resources and strengths in electronic information and energy equipment.

These exchanges helped Malaysian participants better understand the expertise available and identify potential partners for projects requiring complementary capabilities.

Exploring AI, Training and Digital Business Solutions

The company showcases introduced technologies with potential applications across Malaysian industries, from business services and recruitment to tourism, property and workforce training.

Chengdu Minto Technology presented its WorkBrain AI agent model and supporting platforms, development tools and interactive terminals. Its presentation covered applications in tourism, education and enterprise services, providing a basis for discussions on AI-enabled business solutions.

Chengdu Haotuo Technology showcased solutions combining extended reality (XR) and AI, including immersive experiences, disaster and safety training, industrial training and digital exhibition spaces. These technologies opened discussions on potential applications in employee learning, visitor experiences and interactive business environments.

Malaysian companies also brought their own solutions and partnership priorities to the table.

Carijob Holdings presented AI-enabled recruitment and human resource services, including talent matching, résumé analysis, recruitment communication and application tracking. The company expressed interest in connecting Chengdu’s technical expertise with Malaysian businesses, educational institutions and talent networks through recruitment technology pilots and talent development.

Defendian Global introduced an integrated AI governance and cybersecurity platform, highlighting needs relating to data protection, impersonation and fraud risks, and security awareness and skills training.

The exchanges placed Malaysian companies in an active role as technology partners, local solution providers and contributors to future project development.

Partnerships with a Local Application Focus

Two agreements signed during the event established specific directions for collaboration in Malaysia.

Chengdu Minto Technology and Malaysia’s Pro Tech Info Sdn Bhd signed a strategic cooperation agreement covering an OPC technology foundation. Planned activities include AI entrepreneur recruitment, training and certification, and AI agent project delivery within an OPC community.

For Malaysia, these proposed activities could create pathways for local entrepreneurs and practitioners to develop practical AI skills and explore opportunities in technology services.

Sichuan Jianshan Technology and Malaysia’s Omnico Solutions Sdn Bhd signed an agreement covering digital property sales software services and channel cooperation. The partnership aims to support the localisation and application of digital sales gallery solutions in Malaysia.

Its progress will depend on further technical planning and implementation arrangements, including adapting the solution to local business requirements.

Both agreements provide a starting point for collaboration, with the next stage focused on translating commitments into workable projects.

Building Connections Beyond the Event

More than 40 targeted business discussions took place, resulting in 11 preliminary expressions of cooperation interest. Participants explored product applications, technical partnerships, distribution channels and project implementation.

These conversations allowed Malaysian businesses to communicate their requirements directly, assess potential partners and identify areas for further technical engagement.

The ASEAN AI Centre of Excellence also expressed interest in Chengdu’s AI industry and indicated plans to organise a business delegation to China (Chengdu) in 2027 to explore technologies with potential relevance to Malaysia.

The longer-term value of these exchanges will be measured by their local outcomes: useful solutions, stronger skills, successful implementation and sustainable business relationships.

By combining Malaysian market knowledge and industry networks with complementary technology expertise, the partnerships explored in Kuala Lumpur could help local businesses develop new capabilities and commercial opportunities. Continued engagement will be essential to ensuring that cooperation delivers practical benefits for Malaysia’s businesses and talent.

About the Event

The event was hosted by the Chengdu Municipal Science and Technology Bureau and organised by Intrinsic SEA, in collaboration with the Tianfu International Technology Transfer Centre, with support from the Southeast Asia Advanced Manufacturing Science and Technology Council. The programme featured industry presentations, technology showcases, partnership signings and targeted business discussions.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/malaysiachina-chengdu-collaboration-opens-new-doors-for-local-businesses-and-talent-302931906.html

SOURCE Intrinsic SEA

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Equinix Opens SG6 in Singapore, Expanding AI-Ready Capacity in One of Asia-Pacific’s Most Connected Markets

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Latest data center combines liquid cooling, renewable energy and global connectivity to support next-generation computing demands

REDWOOD CITY, Calif., Nov. 6, 2026 /PRNewswire/ — Equinix, Inc. (Nasdaq: EQIX), the world’s digital infrastructure company®, today announced the opening of SG6, its sixth International Business Exchange™ (IBX®) data center in Singapore. Designed to support AI, high-performance computing and data-intensive workloads, SG6 expands Equinix’s global footprint of more than 280 data centers and provides customers with the infrastructure needed to connect, innovate and scale in an increasingly AI-driven economy.

As businesses worldwide accelerate investments in AI, cloud and digital services, demand is growing for highly connected infrastructure that can support next-generation applications while advancing sustainability objectives. Located in one of Asia-Pacific’s most strategically connected markets, SG6 combines private interconnection, global ecosystems and advanced infrastructure to help organizations deploy distributed digital workloads across regions.

“Singapore sits at the intersection of global commerce, digital technology and sustainable development,” said Adaire Fox-Martin, Chief Executive Officer and President, Equinix. “Equinix has been investing in Singapore for nearly 25 years, and our new facility will further expand our presence as the neutral exchange where enterprises connect to the clouds, networks and partners they need to innovate and grow. Singapore is one of our most important markets globally, and our continued investment here is a testament to the central role it plays in the digital economy.”

SG6 is among the first data centers developed under Singapore’s Data Centre Call for Application framework and is designed to support high-density AI deployments through advanced cooling technologies, including proprietary cooling systems and liquid-cooling capabilities that accommodate power-intensive GPU infrastructure.

The opening of SG6 further advances Equinix’s Future First sustainability strategy and aligns with the company’s science-based commitment to achieve net zero emissions by 2040 and 100% renewable energy coverage globally by 2030 across its retail IBXs data centers. Equinix’s Singapore data centers have maintained 100% renewable energy coverage since 2020. SG6 is designed to achieve a Power Usage Effectiveness (PUE) of 1.20 and is targeting Green Mark Platinum certification. The facility also incorporates rooftop and facade solar photovoltaic systems, rainwater harvesting capabilities and lower-embodied-carbon construction materials to support more efficient operations and responsible growth.

“Asia-Pacific is at the forefront of digital transformation, with AI adoption, cloud expansion and data-intensive workloads driving unprecedented demand for high-performance digital infrastructure,” said Cyrus Adaggra, President, Asia-Pacific, Equinix. “Singapore remains a strategic gateway for businesses serving the region, connecting key markets, talent and innovation ecosystems. SG6 strengthens our ability to support customers as they scale across Asia-Pacific, providing the resilient, interconnected and sustainable infrastructure they need to accelerate innovation and capture new growth opportunities.”

With an initial investment of approximately $290 million, SG6 provides 8 MW of capacity in its first phase, delivering approximately 1,550 cabinets. Upon full build-out, the facility will offer up to 20 MW of IT capacity.

Equinix also plans to open a Co-Innovation Facility (CIF) at SG6 in partnership with the National University of Singapore in 2027. The facility will focus on advancing technologies that improve data center sustainability and energy efficiency, including liquid cooling, cognitive digital twins and battery energy storage systems.

Since entering Singapore in 2002, Equinix has expanded from a single data center to six facilities, creating one of Asia-Pacific’s most densely interconnected digital infrastructure hubs. Equinix’s Singapore operations connect enterprises to a rich ecosystem of cloud, IT, financial services, communications, media and technology providers, while supporting connectivity to global markets through more than 17 subsea cable systems.

Additional Resources

Equinix Fosters AI Development by Building a High Performance and Sustainable Data Center in Singapore [press release]Equinix and National University of Singapore Partner to Explore Sustainability and Energy Solutions for Data Centers [press release]Equinix Strengthens Singapore’s Sustainable Digital future with Additional Renewable Energy Power Purchase Agreement with Flo Energy [press release]

About Equinix
Equinix, Inc. (Nasdaq: EQIX) shortens the path to boundless connectivity anywhere in the world. Its digital infrastructure, data center footprint and interconnected ecosystems empower innovations that enhance our work, life and planet. Equinix connects economies, countries, organizations and communities, delivering seamless digital experiences and cutting-edge AI—quickly, efficiently and everywhere.

Forward-Looking Statements

This press release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially from expectations discussed in such forward-looking statements. Factors that might cause such differences include, but are not limited to, risks to our business and operating results related to the current inflationary environment; foreign currency exchange rate fluctuations; stock price fluctuations; increased costs to procure power and the general volatility in the global energy market; the challenges of building and operating IBX® and xScale® data centers, including those related to sourcing suitable power and land, and any supply chain constraints or increased costs of supplies; the challenges of developing, deploying and delivering Equinix products and solutions; unanticipated costs or difficulties relating to the integration of companies we have acquired or will acquire into Equinix; a failure to receive significant revenues from customers in recently built out or acquired data centers; failure to complete any financing arrangements contemplated from time to time; competition from existing and new competitors; the ability to generate sufficient cash flow or otherwise obtain funds to repay new or outstanding indebtedness; the loss or decline in business from our key customers; risks related to our taxation as a REIT; risks related to regulatory inquiries or litigation; and other risks described from time to time in Equinix filings with the Securities and Exchange Commission. In particular, see recent and upcoming Equinix quarterly and annual reports filed with the Securities and Exchange Commission, copies of which are available upon request from Equinix. Equinix does not assume any obligation to update the forward-looking information contained in this press release.

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SOURCE Equinix, Inc.

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Longbridge Appoints Henry Zhong as Chief Executive Officer of Hong Kong

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HONG KONG, Nov. 6, 2026 /PRNewswire/ — Longbridge Group, an AI-native financial technology company, today announced the appointment of Henry Zhong as Chief Executive Officer of Long Bridge HK Limited (“Longbridge Hong Kong”), effective immediately. Zhong will lead the Group’s securities business in Hong Kong and drive its strategic development.

Zhong joins from SPDB International, where he most recently served as Deputy Chief Executive Officer. His appointment follows that of Gavin Chia as Singapore and Regional CEO, Southeast Asia, in May 2026. Together they form a leadership team covering Longbridge’s two core growth corridors in Asia.

A Regional Platform Built for Scale

Asia is home to some of the world’s deepest pools of investable wealth and most active investor communities. Hong Kong sits at its centre: an international financial hub, a gateway for cross border capital and one of Asia’s most mature regulatory environments.

Investor behaviour across the region is changing quickly. Portfolios now span markets, asset classes and trading sessions, and investors have more information to process than ever before. They want platforms that offer market access together with institutional quality research, strong technology and tools that support well informed decisions.

Zhong’s appointment reflects Longbridge’s ambition to build the trusted infrastructure that connects investors, financial institutions, AI and global financial markets with Hong Kong at its core. It also marks the Group’s move into a new stage of growth, in which its technology and product innovation are matched by the governance, risk discipline and regulatory standards expected of a long established financial institution.

“As Longbridge enters its next phase, we are bringing in leaders who have built and run licensed businesses inside major financial institutions,” said Nowa Zhu, Group CEO & Co-Founder of Longbridge Group. “Henry has a strong track record in leading and scaling investment banking and securities businesses, as well as taking businesses from licence application to scale. He understands the needs of sophisticated investors, and he has operated at the highest regulatory standards throughout his career. That combination is exactly what we need to grow at scale, responsibly and sustainably.”

“Henry’s institutional experience, combined with Longbridge’s technology and AI capabilities, strengthens our foundation for long term growth in Hong Kong.”

A Banking Veteran Bets on AI-Native Investing

Zhong brings nearly two decades of experience spanning commercial banking, investment banking and securities, overseeing regulated activities across investment banking, securities brokerage, private wealth, research and FICC businesses.

That experience gave him a front-row view of how quickly financial services are changing. AI is reshaping how research is produced, how trading and advisory workflows operate, and how investors find, assess and act on opportunities. In his view, the next generation of financial leaders will be those that can combine institutional discipline and regulatory rigour with technology at scale.

“I have spent my career building licensed financial businesses and have seen firsthand where the traditional model is being redefined,” said Henry Zhong, CEO of Longbridge Hong Kong. “Investors today expect intelligence, speed and transparency that conventional platforms were not designed to deliver. Longbridge was built for this moment, with AI at its core and a clear commitment to operating to the highest regulatory standards. I chose Longbridge because it is where institutional experience and technology can create the most value for investors, and that is where I want to build the next chapter of my career.”

“Sustainable growth in financial services is built on trust, and trust is built on robust risk management and compliance. The role of AI is not to make decisions for investors, but to give them better information and better tools so they can act with greater confidence,” said Zhong.

Bringing Longbridge’s AI Capabilities to the Region

Longbridge builds AI into its investment platform across research, market analysis and trading workflows, rather than treating it as a standalone feature. In 2025, the company became the world-first to introduce pre-market trading for selected U.S. stock options. In July 2026, it unveiled a broader suite of AI powered investment products and open technology platforms for investors and developers.

A key part of Zhong’s mandate is to bring these capabilities to wider group of investors. Products and services will be designed around local investor needs and delivered in accordance with the regulatory requirements of each market in which Longbridge operates.

His appointment is part of Longbridge’s continued investment in leadership, technology and regulated businesses across Asia as the Group scales its regional presence.

About Longbridge Group

Longbridge Group is an AI-native financial technology group building trusted infrastructure that connects investors, financial institutions, AI and global financial markets.

Its integrated ecosystem comprises Longbridge Securities, an AI-powered online brokerage; LongPort, an institutional-grade trading technology and infrastructure provider offering multi-market and multi-asset solutions; and Longbridge AI, a next-generation AI-native financial data and investing platform. Together, they are redefining how individuals and institutions access, understand and interact with financial markets.

Founded in 2019, Longbridge operates licensed financial businesses across multiple jurisdictions. It holds 22 financial regulatory licences or qualifications across the US, Hong Kong, Singapore and other markets, and has secured strategic investment from leading global financial institutions and investment firms.

Longbridge’s vision is to make investing a seamless part of how people use AI every day by building trusted infrastructure for the future of intelligent investing.

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SOURCE Longbridge Group

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