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CalPERS weighs AI’s risks, to markets and to humanity, as tech valuations soar

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The largest US public pension debated AI risks after an Anthropic researcher's resignation, while quietly trimming its Big Tech exposure Pension boards usually worry about interest rates, inflation and whether retirees will get paid on time. The supervisors of the California Public Employees’ Retirement System spent part of September worrying about the end of the world. CalPERS, the largest public pension fund in the US, held a board discussion on whether artificial intelligence poses risks to its portfolio and to people more broadly. The debate was triggered by a resignation at Anthropic , one of the leading AI labs. The researcher, Jacob Coxon, left Anthropic in 2026. He warned that top AI companies were endangering humanity by racing toward superintelligence.

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