DBS Group Holdings CEO Tan Su Shan stated on October 11, 2026, that the market is currently repricing risks associated with capital expenditures in artificial intelligence. Investors are now demanding higher returns and more rigorous deal structures before providing capital to AI-related projects.
In 2026, DBS arranged approximately SGD 25 billion ($20 billion) in AI-related financing. These deals primarily focused on hardware, including semiconductors, memory chips, and data centers. The bank syndicated most of these loans, distributing them to other investors rather than keeping them on its own balance sheet.
Tan noted that weaker participants in the AI sector may face credit rating downgrades as investors become more selective. She views this shift toward greater financial discipline as a positive development that will contribute to a more stable market environment in the long term.
Since taking office in March 2025, Tan has integrated AI into the bank's internal operations. DBS currently utilizes between 1,500 and 2,000 AI models across various use cases, which the bank estimates generate approximately SGD 1 billion in annual economic value.
