By Stefanno Sulaiman<\/p>\n
JAKARTA (Reuters) -State-owned BPJS Ketenagakerjaan, one of Indonesia’s largest institutional investors, \u200bis keen to invest in firms that provide infrastructure for the \u200cartificial intelligence industry if it gets government approval to invest overseas, a director told \u200cReuters.<\/p>\n
The fund is awaiting regulatory approval to invest abroad as it seeks to expand beyond limited domestic opportunities, Edwin Ridwan, the firm’s director of investment development, said on Monday. There is no timeline \u2060for the decision, \u200che said.<\/p>\n
The fund is seeking approval to invest up to 5% of its total portfolio overseas, he \u200dsaid. The social security fund has 879 trillion rupiah ($52 billion) of assets under management.<\/p>\n
“(AI) supply chain will be a good diversification for \u200bour investment, and it could be in the U.S.\u200c, Taiwan, Japan and South Korea,” he said.<\/p>\n
The fund sees investment opportunities in companies that support the AI sector such as data centres, energy companies that power the AI industry, and cable firms, Edwin said, adding that core AI firms \u2060like the chipmakers were already “too \u200bcrowded”.<\/p>\n