Norway's Sovereign Wealth Fund Sees $138 Billion Profit in First Half Propelled by Tech Stocks
Norway's massive sovereign wealth fund posted a first-half profit of $138 billion, primarily driven by robust returns on its investments in technology stocks. The fund's overall return for the first six months of the year was above 8%, lower than its benchmark index. The CEO said the "very strong" return in equities was mainly due to technology stocks, driven by increased demand for artificial intelligence solutions. Looking ahead, uncertainties and changed geopolitics mean stock markets may not rise as strongly as in past years, with more risks to global stocks.
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00:00It's Benzinga, and here's what's on the block.
00:03Norway's massive sovereign wealth fund posted a first-half profit of $138 billion, primarily
00:08driven by robust returns on its investments in technology stocks.
00:13The fund's overall return for the first six months of the year was above 8%, which was
00:17lower than its benchmark index.
00:19The CEO said the very strong return in equities was mainly due to technology stocks driven
00:23by increased demand for artificial intelligence solutions.
00:27Going ahead uncertainties and changed geopolitics means stock markets may not rise as strongly
00:32as in past years, with more risks to global stocks.
00:35For all things money, visit Benzinga.com.