CONVERGE LIVE updates: Ray Dalio issues U.S. debt warning, Alibaba's Tsai talks AI

This is CNBC's live blog covering CONVERGE LIVE, an inaugural thought leadership event in Singapore.

SINGAPORE — Welcome to CNBC's live blog on the first day of CONVERGE LIVE in Singapore, where global business leaders, investors and key policymakers are sharing ideas about what it means to innovate and grow across industries.

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Among the first to take the stage were industry titans Ray Dalio, founder of Bridgewater, and Salesforce CEO Marc Benioff, who in a wide-ranging discussion touched on the potential for AI, the consequences of tariffs and the future of the U.S. economy.

Dalio warned of a "very severe" U.S. supply-demand problem regarding its debt, which he said could lead to "shocking developments."

The AI theme was front and center during a fireside with Alibaba's chairman, Joe Tsai. He said that people "underestimate the importance" of a recent meeting between Chinese President Xi Jinping and entrepreneurs, saying "it gave private business people confidence to make investments in their business."

Schneider Electric Chairman Jean-Pascal Tricoire is also among those due to speak on Wednesday afternoon, when topics will range from the rapid rise of AI and its implications for sustainability, global capital flow trends and corporate leadership in a disrupted world.

Singapore's Deputy Prime Minister Kim Yong Gan struck a bullish tone at the event, saying that Asia will remain a "beacon of growth opportunities" despite escalating global trade tensions.

CNBC's inaugural CONVERGE LIVE event comes shortly after a nervy start to the week on Wall Street, with investors increasingly concerned that a global trade war could dent U.S. economic growth and trigger a recession.

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