{"id":15491,"date":"2024-08-14T16:38:23","date_gmt":"2024-08-14T16:38:23","guid":{"rendered":"http:\/\/TheNextWeb=1409359"},"modified":"2024-08-14T16:38:23","modified_gmt":"2024-08-14T16:38:23","slug":"norway-wealth-fund-credits-tech-for-138b-profit-but-envisions-market-crash","status":"publish","type":"post","link":"https:\/\/www.londonchiropracter.com\/?p=15491","title":{"rendered":"Norway wealth fund credits tech for $138B profit but envisions market crash"},"content":{"rendered":"\n
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Norway\u2019s sovereign wealth fund is celebrating a $138 billion profit from the first half of the year, but has put the champagne on ice.<\/p>\n

The $1.6 trillion fund credited the returns to investments in tech<\/a>. Driven by surging demand for AI, technology stocks surged during early 2024.<\/p>\n

Norway\u2019s sovereign wealth fund \u2014 the largest in the world \u2014 reaped the benefits. Its equity portfolio gained 12% in the six months through June. <\/span><\/p>\n

Nvidia<\/a><\/span> provided the largest cash injection. Microsoft, Google, Amazon, and TSMC also chipped in big sums.<\/p>\n

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<\/a><\/div>\n<\/div>\n

Over a quarter of its equity investments (26%) are now in tech. But there are escalating fears about their financial futures.<\/p>\n

Tech stocks have plummeted in recent weeks. The fund\u2019s CEO, Nicolai Tangen, expects that worse is still to come.<\/p>\n

Tangen has several anxieties about the market. One is the rising levels of sovereign debt, which can cause markets to plunge.<\/p>\n

\u201cIt\u2019s at a level we haven\u2019t seen [before], it is continuing to increase, and there seems to be very little willingness anywhere in the world to actively try to reduce it,\u201d he told Reuters<\/a>.<\/p>\n

At a news conference on Wednesday, Tangen also raised concerns about global tensions. He cites<\/a> the wars in Ukraine and Gaza as significant risk factors for the fund\u2019s investments.<\/p>\n

\u201cThere is a lot of uncertainty in the world and we are in a completely different geopolitical situation,\u201d he said.<\/p>\n

Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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