{
  "id": 17889436,
  "title": "AustralianSuper digs down on AI 'picks and shovels' to ride out global AI upheaval",
  "url": "https://urgent.news/2026/11/03/australiansuper-digs-down-on-ai-picks-and-shovels-to-ride-out-global-17889436",
  "topic": "ai",
  "section": "AI",
  "published": "2026-11-03T01:18:23.000Z",
  "source": {
    "name": "CNA - Business",
    "slug": "cna-business",
    "url": "https://www.channelnewsasia.com/business/australiansuper-digs-down-ai-picks-and-shovels-ride-out-global-ai-upheaval-6514876"
  },
  "original_language": "en",
  "account": "Australia's largest pension fund, AustralianSuper, is maintaining a strategic focus on the \"picks and shovels\" of the artificial intelligence industry amid turbulence in global tech stock markets. Mark Hargraves, head of the fund's international equities and private equity business, believes chipmakers and hyperscaler data centers will withstand the current storm in the AI sector. The fund's largest AI-linked exposure in its balanced portfolio is Nvidia, with A$3.05 billion in stock holdings. Other significant investments include Microsoft, Alphabet, SK Hynix, SpaceX, Meta, Broadcom, and Micron. Hargraves explained that large language models require compute power, which hyperscalers provide through data centers, and that compute is driven by chips. The fund is actively reassessing its AI holdings as the landscape evolves, capitalizing on emerging opportunities while remaining cautious given the rapid pace of change and evolving valuations.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Investing.com",
        "title": "AustralianSuper digs down on AI ’picks and shovels’ to ride out global AI upheaval",
        "url": "https://urgent.news/2026/11/03/australiansuper-digs-down-on-ai-picks-and-shovels-to-ride-out-global",
        "published": "2026-11-03T01:18:22.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}