Photo / APOverall, the Government and businesses have taken a relatively sleepy approach to the AI (artificial intelligence) boom. But an investment in one of the biggest artificial intelligence stars, chipmaker Nvidia, has paid off big-time for the New Zealand Superannuation Fund. By May this year, it had upped its stake slightly to 778,519, which became 7,785,190 after Nvidia’s 10:1 stock split earlier this month, an NZ Super Fund spokesman confirmed this morning. The latest jump means the $75.5b NZ Super Fund’s stake in the chipmaker is now worth US$1.06b or around $1.75b. But nevertheless, the NZ Super Fund has been notably more front-foot than our other major fund, run by ACC – which beyond its more conservative investing remit is headed by something of a tech boom sceptic.

Source: New Zealand Herald June 20, 2024 03:36 UTC