Norway's Sovereign Wealth Fund Reports $138 Billion Profit in H1…

Team S · 2024-08-14T14:21:36.000Z

Norway's Government Pension Fund Global, the world's largest sovereign wealth fund, reported a profit of approximately $138 billion for the first half of 2024, largely driven by strong gains in technology stocks. The fund achieved an overall return of 8.6%, slightly below its benchmark index. CEO Nicolai Tangen noted that the impressive results were primarily due to the increased demand for innovative solutions in artificial intelligence. Established in the 1990s to manage surplus earnings from Norway's oil and gas industry, the fund has invested in over 8,700 companies across more than 70 countries, with a total valuation of approximately $1.775 trillion as of June 2024. https://www.cnbc.com/2024/08/14/worlds-largest-sovereign-wealth-fund-posts-138-billion-in-h1-profit.html

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Norway's Sovereign Wealth Fund Reports $138 Billion Profit in H1… | Newnex