Norway wealth fund credits tech for $138B profit but envisions market crash

Quick Summary:

Norway’s sovereign wealth fund is celebrating a $138 billion profit from the first half of the year, but has put the champagne on ice.The $1.6 trillion fund credited the returns to investments in tech.

Norway’s sovereign wealth fund — the largest in the world — reaped the benefits.

Driven by surging demand for AI, technology stocks surged during early 2024.

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Article Details

Author / Journalist: Thomas Macaulay

Category: Technology

Markets: NetherlandsNorwayUkraine

Topics: Ecosystems Corporates and innovation Investors and funding Government and policy

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-14 @ 16:38:23 (1 days ago)

News Timezone: GMT +1:00

News Source URL: thenextweb.com

Language: English

Article Length: 401 words

Reading Time: 3 minutes read

Sentences: 24 lines

Sentence Length: 17 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Next Web

News ID: 22082971

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About The Next Web

Main Topics: Technology

Official Website: thenextweb.com

Year Established: 2006

Headquarters: Netherlands

News Last Updated: 1 days ago

Coverage Areas: Netherlands

Ownership: Independent Company

Publication Timezone: GMT +1:00

Content Availability: Worldwide

News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #13

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