Equable Institute estimates state and local pension funds hold between $578.1 billion and $706.6 billion in AI-related companies, or 9% to 11% of their $6.42 trillion in assets as of June 30, 2026, and calls this a conservative lower-bound estimate. AI-related companies account for 35.1% of reported public equity holdings of these funds, and the Magnificent 7 make up 63.3% of that AI exposure. NVIDIA, Apple and Microsoft are the largest reported AI holdings, at $47.3 billion, $42.5 billion and $28.2 billion. The estimate splits into $396 billion in stocks reported directly by 24 of the 25 largest funds, about $180 billion in public stocks not reported by name, and about $130 billion in private equity and corporate debt. Executive director Anthony Randazzo urged every public pension fund to audit its AI exposure, warning that an AI bubble bursting could cause significant losses.
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NVDA
• NeutralNvidia
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Semiconductors |
| Market cap | $5.1T |
| Close on 11/03/2026 | 206.57 |
| Change that session | +2.23% |
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