Vasu Menon, OCBC investment strategy MD, said the long-term outlook for AI-driven gains remains constructive, but the sharp US and Asian tech sell-off shows volatility is inevitable after an extraordinary rally. May’s outsized tech gains make the current healthy correction reasonable; near-term caution is warranted given the inflation trajectory, rising US Treasury yields and uncertainty over Fed policy under the new chair. Planned high-valuation IPOs from SpaceX and ANTHROPIC add short-term con

Vasu Menon, OCBC investment strategy MD, said the long-term outlook for AI-driven gains remains constructive, but the sharp US and Asian tech sell-off shows volatility is inevitable after an extraordinary rally. May’s outsized tech gains make the current healthy correction reasonable; near-term caution is warranted given the inflation trajectory, rising US Treasury yields and uncertainty over Fed policy under the new chair. Planned high-valuation IPOs from SpaceX and ANTHROPIC add short-term concern as markets question AI/tech premia and whether mega-IPOs will siphon liquidity from other tech sectors. Over the longer term, these listings would reinforce AI as a core investment theme.