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NSW rides US tech boom but looking to get out of some AI

The Australian Financial Review (AFR) •
October 29, 2026 • 06:00 PM
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NSW public investment vehicle TCorp will push further into foreign markets after strong returns that it concedes came from an overdependence on AI holdings.

NSW rides US tech boom but looking to get out of some AI

The NSW government’s $127 billion public investment arm has ridden the surge in US technology stocks to another year of strong returns and is pushing deeper into foreign markets to ensure it is not left hostage to the AI-driven boom.

TCorp has flagged it will broaden its international investor base by issuing debt in non-Aussie dollar currencies, after it signalled in August it would diversify by dipping into private equity funds.

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