NEW YORK — Singapore state investor Temasek plans to invest up to $30 billion over the next five years in the US in sectors such as healthcare, financial services and technology.

"It's an incredibly deep and broad capital market in the US,” Jane Atherton, Temasek's head of North America, told Reuters. "The US is really at the forefront of everything that's happening from the AI perspective."

The US economy grew faster than expected in the second quarter and continues to outperform its global peers. Despite recent turbulence, the S&P 500 is up 14.5 percent this year in a rally driven in part by excitement over artificial intelligence.

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In the US, Temasek is particularly interested in areas related to artificial intelligence, such as data centers, semiconductors and battery storage, Atherton said.

Temasek manages a $288 billion portfolio focused on long-term investments with themes such as digitization and sustainability.

Atherton said most of the future performance of US stocks will rely on earnings, especially for the tech megacap sector.

"You've seen some multiple expansion, but that's been driven by higher growth, and in theory it'll pay for it," she said.

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Temasek is also looking for investments in both public and private markets, as more private equity firms seek to divest.