Norway's gigantic sovereign wealth fund, managed by Norges Bank Investment Management, reported a full-year profit of 2.5 trillion kroner ($222.4 billion) driven by the AI boom and strong performance of tech stocks in 2024. The fund's return on investment reached 13% for the year, valuing it at 19.7 trillion kroner at the end of 2024.
Norway ’s gigantic sovereign wealth fund posted a full-year profit of 2.5 trillion kroner on Wednesday.
"Tech really strong, driven by AI, and also financials due to interest rates being higher for longer," he said.NBIM manages the fund on behalf of the Norwegian population. Set up in the 1990s to invest excess revenues from Norway's oil and gas industry, the fund is currently an investor in more than 8,000 companies across 63 countries.
Tangen admitted that he did not know whether the recent tech sell-off was a blip or would become a long-term trend.
Finance Sovereign Wealth Fund Norway AI Tech Stocks Investment Returns
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