Calpers pulls back from big tech as AI jitters deepen neocloud sell-off
California’s pension fund shifts toward private equity as investors question tech valuations and the payoff from soaring AI spending.
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Summary
- Calpers reduced its combined direct shareholdings in the Magnificent Seven tech stocks by 26% in the first half of 2026, the FT reported.
- CoreWeave, Cipher Digital and IREN fell in Monday’s pre-market trading after Elon Musk warned of tightening financing for AI data center companies.
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
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Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years.
Why it matters:
Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years.
