Macquarie Group Stress Tests Portfolios for Software Exposure and AI Threats
Australian Financial Review
ENRICHED
Details
- Date Published
- 9 Feb 2026
- Priority Score
- 2
- Australian
- Yes
- Created
- 10 Feb 2026, 08:45 am
Description
The financial services giant had higher earnings across all divisions in its third quarter, with the commodities and global markets unit a standout performer.
Summary
Macquarie Group is intensifying its stress testing on investments in software businesses due to the rising uncertainties posed by artificial intelligence impacts on technology valuations. The company's increasing focus on AI reflects concerns over how complex AI systems might affect revenue growth for software-as-a-service firms, which constitute a significant portion of Macquarie's investment portfolio. This move underscores the growing intersection of AI risk with financial markets, as potential AI-driven market disruptions are prompting financial institutions to reassess valuation risks. While the article highlights financial implications, it provides limited insights into specific AI safety or governance measures.
Body
CompaniesFinancial ServicesInvestment bankingPrint articleJoanne Tran and Joyce MoullakisUpdated Feb 10, 2026 – 6.41pm, first published at 10.15amMacquarie says it is more rigorously stress testing its growing exposure to software businesses as increasing uncertainty about the impact of artificial intelligence on technology companies hurts valuations and spreads to some of the world’s largest private equity and private credit investors.Shemara Wikramanayake, the asset management and banking giant’s chief executive, said a quarter of Macquarie’s balance sheet investments and private credit loans involved software-as-a-service businesses. That’s a sector that has been heavily sold off as the market worries that increasingly complex AI platforms will lower revenue growth and, with it, returns.Loading...Joanne Tran is The Australian Financial Review’s investment banking reporter. She covers the people, trends, companies, and transactions moving Australian investment banking and capital markets in the Sydney newsroom. Prior to that, she was a markets reporter writing about hedge funds and the asset management industry. Email Joanne at jo.tran@afr.comJoyce Moullakis is an associate editor writing across company news, policy issues, investment banking, private equity and financial services. Connect with Joyce on Twitter. Email Joyce at joyce.moullakis@nine.com.auSaveLog in or Subscribe to save articleShareCopy linkCopiedEmailLinkedInTwitterFacebookCopy linkCopiedShare via...Gift this articleSubscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? LoginLicense articleFollow the topics, people and companies that matter to you.Find out moreRead MoreInvestment bankingMacquarie GroupMacquarie BankEarnings seasonShemara WikramanayakeCommoditiesAIFetching latest articles