According to CoinMeta, as reported by Cailian News on October 23rd, the largest public pension fund in the United States—the California Public Employees Retirement System (CalPERS)–has significantly reduced its holdings in tech giants in the first half of 2026, decreasing the number of shares it directly holds in the “Big Seven Tech Companies” by 26%. This move indicates that as concerns about the sustainability of investments in artificial intelligence grow globally, large institutional investors are actively reducing the risk of market concentration.