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[BUSINESS] · Norway, Portugal · 88 sources

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Norway sovereign wealth fund posts record 1.753 trillion NOK profit

Norway’s sovereign wealth fund, managed by Norges Bank Investment Management, reported a record profit of 1.753 trillion NOK (approximately $184.3 billion) for the first half of 2026. This represents a 9.4 percent return, driven largely by strong performance in global equity markets, specifically Asian technology stocks.

The fund's total market value reached approximately 22.695 trillion NOK by the end of June 2026. Notably, the fund disclosed a $1.22 billion investment in SpaceX, representing a 0.05 percent stake.

Despite the record gains, CEO Nicolai Tangen issued warnings regarding potential volatility. He noted that the fund's high concentration in technology companies poses risks, such as the bursting of an AI bubble. Tangen also cautioned that extreme scenarios, including a US-China trade war or a market crash similar to 1929, could significantly impact the portfolio, potentially erasing up to 80 percent of its equity value.

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