The sustainability of the global artificial intelligence (AI) investment boom is a major uncertainty for economic growth and financial stability, according to Monetary Authority of Singapore (MAS) Managing Director Chia Der Jiun. Global growth, investment, and financial-market performance have become increasingly dependent on continued spending on data centres, semiconductor chips, and computing infrastructure. In addition, he cited “clear risks on the path of AI investment monetisation,” including rising energy and chip costs, raw-material supply bottlenecks, regulatory uncertainty, and competition among model providers. Should returns fall short of expectations, hyperscalers could slow investment and markets could reassess asset valuations, Chia said. Conversely, a prolonged AI investment boom supported by broader productivity gains could lift incomes and demand, but could also add pressure to inflation through increased demand for energy and other inputs.