Author: MIL-OSI Publisher

Source: Guardians of New Zealand Superannuation

7 August 2026

The Guardians of NZ Superannuation, manager of the $94 billion NZ Super Fund, has appointed long-serving investment leader Alex Bacchus Head of Asset Allocation.

Mr Bacchus will take up the role early next month.

Guardians co-Chief Investment Officer Brad Dunstan says the Guardians is fortunate to have someone with Mr Bacchus’s broad investment knowledge and deep understanding of the NZ Super Fund to step into what is a pivotal role.

“Asset allocation is one of the most important decisions we make as an investor. Alex’s experience across risk, portfolio construction and strategic tilting will be invaluable as we continue to refine and improve the way we invest the Fund.”

During a 17-year career with the Guardians, Mr Bacchus has held various roles in the Risk and Asset Allocation teams. Since 2014, he has led the Super Fund’s strategic tilting programme, a mean-reversion investment strategy that has made a significant contribution to returns.

Prior to joining the Guardians, Mr Bacchus worked for Goldman Sachs JBWere (NZ) Ltd as Director of Derivatives and as a Vice President at Merrill Lynch in London, with a focus on structured credit derivatives. He has a MSc from the City University of London and a BE (Hons) from the University of Canterbury.

Mr Bacchus will replace Dr Charles Hyde, who is leaving the Guardians to take up a role abroad.

Mr Dunstan said: “Charles has expertly guided the evolution of the Super Fund’s globally-influential total portfolio approach, and recently finalised a series of important investment governance reviews, including the five-yearly review of the Fund’s Reference Portfolio. He leaves the Guardians with our best wishes and our thanks for the excellent contribution he has made over more than a decade.”

Source: New Zealand Defence Force

7 August 2026

The New Zealand Defence Force (NZDF) has formally assumed the hosting and leadership of the Pacific Response Group (PRG) from the Australian Defence Force (ADF), as the regional crisis response capability heads into its third year.

A handover ceremony was held at Headquarters Joint Forces New Zealand in Trentham, Upper Hutt this week.

The PRG, established in 2024 under the South Pacific Defence Ministers’ Meeting, is a multinational capability designed to deliver coordinated military support to humanitarian assistance and disaster relief (HADR) and crisis response operations across the Pacific.

The PRG brings together defence personnel from New Zealand, Australia, Fiji, France, Papua New Guinea and Tonga, with Chile participating in a supporting role.

Each member nation contributes specialist planners and staff across key functions including operations, logistics, intelligence, health and communications.

Leadership of the PRG has transitioned from the ADF to the NZDF, reflecting the shared commitment of partner nations to collective security and resilience in the Pacific.

Commander Joint Forces New Zealand Major General Rob Krushka said the PRG was a practical demonstration of Pacific nations working together to support one another in times of need.

“Natural disasters in our region are increasing in frequency. The PRG ensures we can respond smarter, together.

“This is about supporting our Pacific neighbours, respecting sovereignty, and working alongside civilian agencies to deliver the right assistance at the right time.”

Designed as a short-notice, deployable headquarters element, the PRG supports civilian-led responses to disasters, helping coordinate military contributions and assessing requirements on the ground.

It can deploy planning teams to affected areas to determine what assistance is required, while coordinating the delivery of critical capabilities with a national disaster management agency or from contributing nations.

The PRG builds on decades of Pacific militaries working together during natural disasters and severe weather events, formalising and strengthening a cooperative approach to HADR across the region.

It also enables Pacific countries without standing militaries to request military support when disasters strike.

Since becoming operational in late 2024, the PRG has participated in multinational exercises such as Exercise Croix du Sud in New Caledonia, where it tested its ability to coordinate complex, large-scale disaster responses.

Under NZDF leadership, the PRG will continue to enhance preparedness, interoperability and readiness across member nations, ensuring the region is better equipped to respond to future crises.

Major General Krushka said the handover signalled continuity as well as progress.

“The transition of leadership reflects the shared ownership of the PRG. Together, we are strengthening a capability that is by the Pacific, for the Pacific.

“New Zealand is proud to assume leadership of this important initiative, building on the strong foundations established by Australia and our regional partners.”

The team will be based alongside the NZDF’s operational headquarters at Trentham until mid-2028, when the leadership role will be handed over to another host nation.

PHOTO CAPTIONS

Photo 1: The Pacific Response Group is made up of personnel from New Zealand, Australia, Fiji, France, Papua New Guinea and Tonga, with Chile participating in a supporting role
Photo 2: Warrant Officer One Brent Pene blows the conch to begin the pōwhiri
Photo 3: Chief of Defence Force Air Marshal Tony Davies addresses the audience

Source: New Zealand Society of Authors Te Puni Kaituhi o Aotearoa (PEN NZ Inc)

Applications are OPEN

An award supporting writers of new fiction – $5,000

The New Zealand Society of Authors Te Puni Kaituhi o Aotearoa (PEN NZ Inc) announce the 2026 opening of this award, which supports the completion and/or publication of new fiction by a mid-career fiction writer from New Zealand.

The NZSA Shaw Writer's Award was established by novelist Tina Shaw to encourage the development of great novels by mid-career fiction writers who are working on a new project. All applicants must be New Zealand citizens or permanent residents.

Want to Apply?

This award is open to mid-career New Zealand fiction writers, meaning any writer with a growing body of published word who has published at least two standalone works. While a broad range of fiction and publication models will be considered, please check the guidelines carefully before applying.

First: Read the Terms and Conditions for the NZSA Shaw Writer's Award.

Then: Fill in the NZSA Shaw Writer’s Award application form.

An award for a New Zealand writer of fiction – $5,000

The NZSA Shaw Writer's Award opens for applications 7 August 2026, and will close at midnight 18 September 2026.

Submissions must be made online. Unsuccessful applicants will be advised before recipients are announced. Successful recipients will be contacted directly, and we will also publish the announcement on the NZSA websites and social media platforms.

2025 Winner

The 2025 winner of the NZSA Shaw Writer's Award was Cristina Sanders who said:

“Thank you Tina Shaw! The timing of this award is perfect; I’m off to wander Te Rohe Pōtae next week, whispering up ghosts and stories, tracing our colonial history in the geography of hills and rivers. I’m am so grateful to the judges for considering my story, with all its peculiarities, worth telling.”

About the Award

Tina Shaw says of her award, “It’s true that our New Zealand writers frequently express the feeling that their mid-career progress is slower than that of new writers, who can more readily garner media interest for their publications,” says Shaw.

As a result, the award is intended not only to offer the recipient the freedom that money brings but also to increase the chances of a mid-career writer being recognised as a “good business” prospect to be welcomed by publishers.

Applicants will be shortlisted by a judging panel, with the final winner selected by Tina Shaw in consultation with and advised by the shortlist judging panel.

The New Zealand Society of Authors Te Puni Kaituhi o Aotearoa administers the prize. Entries for the NZSA Shaw Writer's Award must be made via the New Zealand Society of Author’s website (authors.org.nz) by the advertised deadline, with the winner announced after judging has been completed.

Notes

The New Zealand Society of Authors Te Puni Kaituhi o Aotearoa PEN NZ Inc is the principal organisation representing writers in Aotearoa. Founded in 1934, it advocates for the right to fair reward and creative rights, administers prizes and awards, works across the literary sector to make Aotearoa New Zealand writers and books more visible, and runs professional development programmes for writers.

New Zealand Society of Authors

Source: Love Queenstown

Queenstown Lakes, New Zealand (7 August 2026) – Queenstown tourism operator Ziptrek Ecotours has become a Love Queenstown Impact Partner, strengthening its support for local climate, conservation and biodiversity projects.

Ziptrek has been involved with the community fund since its launch in 2023, contributing to fundraising events, industry planting days and other environmental initiatives. The new partnership will provide sustained financial backing for grassroots projects across the Whakatipu.

Founder Trent Yeo says the partnership is a natural fit for Ziptrek and reflects the company's belief in businesses working together.

“We love working with Love Queenstown, and this step makes our support more direct and ongoing,” he says. “No one can do it individually. Collectively is much better.”

Love Queenstown Community Fund Coordinator Ash Bickley says Ziptrek has long demonstrated responsible tourism in practice.

“Trent and the team have been an inspiration in this space, showing what's possible when a business puts people and place at the heart of everything it does,” she says.

Since opening above Queenstown in 2009, Ziptrek has planted more than 6,000 native trees and contributed well over $250,000 to community and environmental organisations.

Its support has included Mana Tāhuna, Kiwi Birdlife Park and Sustainable Queenstown, alongside Locals' Days, staff volunteering, environmental restoration, and education.

Ziptrek was also Queenstown's first tourism operator to achieve Net Zero Carbon Business Operations certification, which it has maintained for six consecutive years.

Trent says Love Queenstown gives businesses and visitors a trusted, practical way to contribute to the place they live in or visit.

“Queenstown is developing as a place where people can formally, functionally and loudly contribute,” he says. “And our community wants to see that.”

After almost two decades in tourism, he says sustainability should become a normal part of doing business.

“You have to be simultaneously patient and impatient about these things,” he says.

“The whole idea of sustainable tourism should disappear and just become normal. I am hopeful. I'm also still impatient.”

He says Love Queenstown enables businesses to support credible local organisations without having to identify, assess and administer individual projects themselves.

“Love Queenstown is sitting there waiting to be fed,” he says. “It's a very solid way to ethically give out money without every business having to work out who receives it and whether they're the right organisation. Love Queenstown manages that.”

Love Queenstown Impact Partners commit either 1% of net proceeds or $10,000 or more annually. Contributions are pooled, with 80% supporting immediate environmental action through annual Impact Grants and 20% invested in an endowment fund for future generations.

About Love Queenstown and Love Wānaka

The Love Queenstown and Love Wānaka Community Funds support grassroots environmental efforts, providing an opportunity for visitors and businesses to give back and help care for the environment at the heart of our region.

Launched in 2023, Love Queenstown and Love Wānaka were the first initiatives to come to life from the region's Destination Management Plan: Travel to a Thriving Future. They are delivered in partnership with Destination Queenstown, Lake Wānaka Tourism and the 45South Community Foundation.

Grants are available on an annual, contestable basis for charitable organisations undertaking local climate, conservation and biodiversity work.

About Ziptrek Ecotours

Ziptrek Ecotours has operated zipline experiences in the forest above Queenstown since 2009. Environmental stewardship and education are integrated throughout its operations, visitor experiences and community partnerships.

Love Wānaka and Love Queenstown are initiatives of Lake Wānaka Tourism and Destination Queenstown and are delivered in partnership with 45 South Community Foundation. (CC55258).

Source: Workers First Union

Juken NZ has confirmed the Northland Mill will close permanently today – Friday, 7 August – two weeks earlier than the previously planned closure date of 21 August. Workers First Union organiser Marcus Coverdale says the earlier date came as a surprise to workers and delegates.

“Holy heka, it's a bit of a shock as this wasn't expected to happen for another couple of weeks,” said Mr Coverdale.

Despite the accelerated timeline, workers will be paid out to the end of the originally planned term. The collective agreement's terms and conditions will roll over, with workers also receiving a wage increase and back pay reflected in their final pay calculations.

Some Northland Mill workers have taken voluntary redundancy, while others have transferred to shifts at the nearby Triboard Mill, which remains open. No updates have been provided yet on the Triboard Mill’s future and potential buyer.

“Some of the older Triboard workers were happy to take redundancy now and open up opportunities for younger workers from the Northalnd Mill, which they were really grateful for,” said Mr Coverdale.

“Some of these workers have another 20 years of work left in them while others are coming towards retirement.”

Bargaining for a new collective agreement had been underway with Juken NZ before events escalated rapidly this week.

There remains hope that a buyer could still be found for the Northland Mill site or facilities. A new one-year agreement is in place that could be transferred to a new employer, should a buyer come forward.

“The hope is that an investor could still purchase this mill and hire the experienced local workers with an agreement already in place,” said Mr Coverdale.

Juken NZ is planning to hold an employment transition event with local agencies and employers to support affected workers. Workers First Union acknowledges the work local agencies, training providers, and government agencies have done to support workers through the transition.

“The flow-on effects of the mill's closure will be felt in the Northland community long after the gates close for the last time,” said Mr Coverdale.

Source: Office of the Ombudsman

Compliance with the Official Information Act by Government Ministers and agencies is set to come under closer scrutiny by the Ombudsman as New Zealand’s General Election approaches.

Chief Ombudsman John Allen says it will become more important over the next three months for people requesting official information to get it as quickly as possible and for that information to be accurate and reliable.

“We are now into what’s generally known as the “pre-election period,” which is the three months prior to a general election. During this time, voters will be seeking information that will help them make decisions on who will best represent their interests and who should be making the laws and policies that will affect their lives in the future.

“Ministers and agencies must apply the OIA correctly and work quickly to minimise the risk of information becoming irrelevant.”

Mr Allen says his office is rolling out a suite of initiatives to ensure government ministers and agencies pay extra close attention to their obligations under the Official Information Act over the next few months.

“We are contacting the Prime Minister and the Public Service Commissioner directly to urge them to plan ahead for this period and to get it right the first time for requesters. We will also be asking ministers and agencies to push information out proactively if they see a pattern of requests about an issue, so the information is available to everyone.

“This also has the positive effect for ministerial offices and agencies of minimising the administrative demand on their staff from having to respond to individual requests.”

Mr Allen says requesters also have a part to play in ensuring the Official Information Act functions well and as it is supposed to.

“The public must exercise their rights under the law responsibly. This includes making sure their requests are reasonable and that they refrain from slowing down the process by engaging in things like ‘fishing expeditions.’ This isn’t helpful to anyone. We want them to be willing to engage with Ministers and agencies quickly when clarity is needed about what they are seeking.”

Mr Allen says the role his office will play over the pre-election period will be more critical than ever with people’s growing reliance on social media as a source of news.

“While there are obvious benefits to getting information through social media, there is a risk that people may not be getting the big picture, or a contestable view. This can cause harm and shape public perception in ways that may be deceptive or misleading.

“We will demonstrate what we are doing to make sure New Zealanders have access to reliable, accurate information that they need to decide their vote. As the country’s independent overseer, we can quickly review and confirm what is true and not so the voter can rely on our report for accurate information.”

The Ombudsman’s office will also produce regular, targeted guidance for Ministers, agencies and the public on how to approach requests over the next few months as well as advice on dealing with issues that were problematic during past pre-election periods.

There will also be guidance on the prudent use of AI for agencies, requesters and complainants during this time.

Additionally, the office will publish the number of complaints it has received about Ministers’ handling of OIA requests on a weekly basis, what they’re about and how they’re being dealt with.

“We will be reminding the public that they can seek our advice and can complain to us if they are unhappy about the way their requests have been handled. We are geared up to deal with any such complaints urgently.”

The OIA and you: Election 2026

Source: Greenpeace Aotearoa

The flood of secret money flowing into political parties shows the urgent need to clean up the electoral finance rules if we are to avoid a US-style system of one-dollar-one-vote, says Greenpeace Aotearoa.

“This flood of secret money into political parties is a systemic threat to our democracy. We need to clean up the electoral finance rules as a matter of urgency,” says Dr Russel Norman, Greenpeace Aotearoa Executive Director.

There has been a surge of ‘anonymous’ donations into political parties, nearly $500,000 so far this year. While the identity of the donors is kept secret from the public, there is no way of knowing if in fact the parties receiving the money know the identities.

“We need to close the loophole that allows these anonymous donations, just as we need to ban corporate donations and put a low cap on individual donations,” says Norman.

“These secret donations could be coming from polluting industries such as agribusiness, the oil industry, the fishing industry seeking to influence the political parties to protect their profits.

“We know already that there has been millions going into the political parties connected to fast track applications.

“The process for reforming campaign finance needs to be led by citizens, not political parties. The last independent review of electoral finance rules recommended removing these anonymous donations but the political parties did not progress these changes.

“We call on all political parties to commit to a citizens assembly led process to review the electoral finance laws and to commit to implementing the recommendations of the citizens assembly.

“As a society we need to make significant changes if we are to address the climate and biodiversity crises, but vested interests are donating to political parties in an effort to protect the status quo. We need to free our political system of the corrupting influence of secret money.”

Source: Te Kāhui Tika Tangata Human Rights Commission

Aotearoa New Zealand can be a society where digital technologies support dignity, equality, and participation for all.

As artificial intelligence (AI) becomes increasingly embedded in everyday life, the Human Rights Commission is calling for a human rights and Te Tiriti o Waitangi-based approach to ensure these technologies serve people fairly, transparently and responsibly.

Today the Commission releases its report, AI and Digital Technologies: A Human Rights and Te Tiriti o Waitangi Approach, which outlines how Aotearoa New Zealand can harness the benefits of emerging technologies while protecting people's rights and freedoms.

Chief Human Rights Commissioner Dr Stephen Rainbow says decisions being made today will shape New Zealand's digital future for generations.

“The question is not whether we use AI, but how we use it. We have an opportunity now to build systems that respect human rights and ensure the widest possible access to the benefits of AI. Getting this right will help unlock the benefits of technology and build the public trust and confidence essential to the adoption of AI.”

The report provides a foundation for policy development, practical action and public dialogue on how AI can be adopted, used and governed in ways that respect human rights, honour Te Tiriti o Waitangi and ensure the widest possible benefits to society. It also highlights that New Zealand does not need to start from scratch when responding to AI. Existing human rights protections, domestic legislation, international standards, and Te Tiriti o Waitangi already provide strong foundations for governance and accountability of AI.

The report emphasises the importance of Indigenous rights and Māori participation in decisions about digital technologies, data and AI governance.

Rongomau Taketake Indigenous Rights Governance Partner Dayle Takitimu says Te Tiriti o Waitangi provides essential guidance for New Zealand's approach.

“Māori, like all peoples, have the right to determine how data relating to their communities, interests and identities is collected, used, governed and protected. As AI systems increasingly draw on language, knowledge and data, it is critical that Māori rights, interests and authority are respected.

“A Te Tiriti-based approach is not simply about managing risk. It is about recognising tino rangatiratanga, protecting taonga, and ensuring Māori are active partners in shaping Aotearoa's digital future. If we get this right, we can create technology that benefits everyone while honouring our constitutional foundations.”

Dr Rainbow says that while these technologies can create significant benefits, there are also significant risks including the amplification discrimination, a lack of transparency and accountability as well as risks to privacy and lack of access to redress.

“People have a right to know when technology is being used to make decisions about them, what information is being used, and how they can challenge those decisions. Human rights are not a barrier to innovation. They are the foundation for innovation that people can trust.”

The Commission says a human rights approach provides a practical pathway for balancing innovation with protection, ensuring technology works for people and communities, and building the public trust necessary for AI to be used in a way that can benefit all of us.

To learn more and to download a copy of the report or its executive summary, visit the Human Rights Commission website.

Te Kāhui Tika Tangata Human Rights Commission offers a free and confidential information and dispute resolution service.

Go to the Human Rights Commission complaints page for more information.

Source: New Zealand Nurses Organisation

Dozens of NZNO’s Total Care Health North Island members will hold a full withdrawal of labour strike on Friday 7 August from 8.30am to 4.30pm. The pickets take place in Hamilton, Auckland and Havelock North (Hawke's Bay).

Working under the ACC Nursing Services Contract for Total Care Health by Access, they provide essential care to patients with complex health needs and those requiring wound care under ACC criteria.

NZNO delegate and Total Care nurse, Krystal Lewis, says:

“Our nurses are on the road up to seven days a week, travelling far and wide to assess, treat, support, and prevent clients from requiring hospital admission. They deliver highly skilled, compassionate care in people's homes, often in challenging and isolated environments.

“Despite the vital role we play in keeping people well and reducing pressure on hospitals, our value is not reflected by our employer. We remain the lowest-paid community nursing workforce, despite the complexity, responsibility, and flexibility our roles demand.”

Auckland

When: 10.30am – 11.30pm, Friday 7 August

Where: 24 Manukau Road, Epsom

Hamilton

When: 11.30am – 12 noon, Friday 7 August

Where: 133 Collingwood Street, Hamilton East

Havelock North

When: 11am – 12 noon, Friday 7 August

Where: 3 Martin Place, Havelock North

Source: deVere Group

AI investors should follow three priorities for the rest of 2026, warns the CEO of one of the world's largest independent financial advisory organisations, as sharp swings are exposing which parts of the AI trade are built on real demand and which are not.

Nigel Green of deVere Group's comments come as this year's AI rally is splintering sharply, and this week is making the reason for urgency unmistakable.

Global AI investment is projected to exceed $2.5 trillion in 2026, yet the disconnect between roughly $400 billion in infrastructure spending and only around $100 billion in enterprise AI revenue has become impossible to ignore.

A recent Bank of America fund manager survey found 45% of respondents now flag an AI bubble as the market's greatest tail risk, up from just 11% a few months earlier, with more than half saying they believe AI stocks are already trading in bubble territory.

“The pattern is on full display this week, and it is exactly why investors cannot afford to wait for clarity before adjusting their approach,” says the deVere CEO.

“Asian stocks slipped on Thursday as a recent tech-led rally on Wall Street paused, with the MSCI Asia Pacific Index down 0.2% and South Korea's Kospi falling 1%.

“The S&P 500 pulled back from a record high, and an index of semiconductor stocks lost more than 1%, even as Nvidia itself advanced.

SpaceX tumbled 14% despite posting strong earnings, ahead of the release of roughly $101 billion of shares becoming available for trading Thursday.

One session captured the whole story: strong results still triggering a sharp share-price fall, and a broadly steady chip sector still unable to prevent a sector-wide pullback.

The same split has shown up repeatedly in recent weeks.

Nvidia shares fell 5% in a single session after reports it was pursuing a payment guarantee of up to $250 billion for OpenAI's data centre lease, alongside discussions for up to $350 billion in additional financing, pushing the company's market cap below Apple's for the first time in over a year. Its five-year credit default swap premium surged by the largest single-day amount on record on the news.

SK Hynix posted record quarterly revenue, up 257% year-over-year with a 76% operating margin, and still fell 9% on the earnings call, underscoring how quickly sentiment has turned even for companies delivering strong results.

Nigel Green says this is the moment investors need to stop treating the AI trade as settled and start applying real scrutiny.

“Markets are no longer giving AI companies the benefit of the doubt just because they are spending heavily,” he says. “What happened this week, and in the previous weeks, should be a wake-up call. Strong earnings did nothing to stop a 14% single-day fall. This only happens when investors have already decided that headline growth is not enough on its own anymore.

“Waiting for more certainty before adjusting positioning is itself a risk now.”

He sets out three priorities investors should apply to the AI trade through year-end.

1. Differentiate within the sector rather than treating it as one bet.

Micron, Applied Materials, and Cisco have each posted genuine earnings strength this year on the back of real component shortages and cloud-provider demand, with Cisco raising its 2026 revenue guidance to $62.8 to $63.0 billion on solid AI data-center orders. This stands in sharp contrast to companies whose growth increasingly depends on vendor financing arrangements between suppliers and their own customers.

“The AI trade stopped being a single story months ago, and treating it as one is the fastest way to get this wrong,” Nigel Green explains.

“Some companies are seeing real, measurable demand for the physical components that power this build-out. Others are increasingly reliant on complex financing arrangements to sustain their growth narrative.

“Lumping them together in one portfolio decision is no longer defensible.”

2. Watch balance sheets, not just growth stories.

SpaceX has erased roughly $1.2 trillion in market value since its record-setting June IPO, sitting 47% below its June 16 closing high, pressured by lock-up expirations, Starship test setbacks, and now a fresh $101 billion share unlock landing squarely on an already battered stock.

Meanwhile, Alphabet, Amazon, Meta, and Microsoft's collective 2026 capital expenditure is set to jump 77% to a record $725 billion, well above the $500 billion analysts originally expected, against a combined contractual backlog across the group of roughly $2.1 trillion.

“The stocks under the most pressure this year aren't simply the ones spending the most on AI infrastructure,” notes Nigel Green.

“They're the ones carrying the largest financing entanglements and debt-guarantee exposure. Investors screening for growth alone, without looking at what sits underneath it, are missing the signal that actually matters right now.”

3. Expect volatility around each earnings date rather than a steady trend.

The price-to-earnings ratio has climbed above 40, a level last seen before the dot-com crash, and this week's 14% swing in SpaceX shares on strong earnings, not weak ones, shows exactly how easily financing can unlock events and overwhelm fundamentals in the short term.

“This year has taught investors that AI-adjacent stocks can move 5% to 10%, and sometimes considerably more, in a single session on financing news alone, in either direction,” Nigel Green says.

“Investors need to size positions accordingly, because waiting for a calmer market before adjusting exposure is not a realistic strategy right now.

“Sharp single-day moves around individual earnings dates are very different from a gradual repricing of the sector, and the two need to be told apart urgently.”

Nigel Green concludes that the investors who move decisively now, rather than waiting for the picture to become fully clear, will be the ones best positioned through year-end.

“The investors who do well for the rest of 2026 are likely to be the ones who stopped asking whether AI as a sector is a good bet months ago.

“The more useful question is which parts of the AI trade are built on real demand and which are built on financing structures that still need to prove themselves.

“Getting that distinction right, and acting on it sooner rather than later, is the work in front of every investor holding AI exposure today.”

deVere Group is one of the world's largest independent advisors of specialist global financial solutions to international, local mass affluent, and high-net-worth clients. It has a network of offices around the world, more than 80,000 clients, and $14bn under advisement.