Diary entry, 21 May 2026. OpenAI just dropped S$300M into Singapore and I'm checking whether this changes anything in my dividend portfolio 📝
What I currently hold that's tangentially involved:
- Keppel DC REIT, ~4.8% forward yield 🏢
- Mapletree Industrial Trust, ~5.4%
- A small Singtel position, ~5.1%
What I'm NOT going to do: rotate hard into "AI play" because of one headline. I bought these for the distributions and the structural data center thesis. OpenAI moving in just adds a small tailwind 💰
What I'm watching: whether Keppel DC REIT or MIT actually report contracts tied to AI workloads in next quarter's results. Headline doesn't equal revenue. Signed lease equals revenue.
The 200+ AI jobs part is the most important takeaway for SG long-term, but it doesn't change my portfolio today. Different time horizon, different game 🇸🇬
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