Investors warn mega-cap concentration as AI capex faces reality check

(From left to right) Weijan Shan, Executive Chairman of PAG; William E. Conway, Jr., Co-Founder, Interim CEO, and Co-Chairman of Carlyle; Luke Ellis, CEO of Man Group; Ben Way, Group Head of Macquarie Asset Management; and Jim Zelter, Co-President of Apollo Asset Management, share their views on how to create value through uncertainties at the fifth edition of the HKMA’s 2026 Global Financial Leaders’ Investment Summit in Hong Kong. Photo from the Hong Kong Monetary Authority (HKMA).