Norway $1.8 Trillion Fund Ended 2024 With Tech-Heavy Top Ten
- Apple takes over from Microsoft as the fund’s largest position
- NBIM publishes all of its holdings for the end of the year
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Norway’s $1.8 trillion wealth fund ended 2024 with a tech-heavy top ten, just as the success of the artificial intelligence model developed by Chinese startup DeepSeek raises the specter of a correction in the AI-driven stock rally.
With technology stocks accounting for nine out of its ten largest holdings as of the end of last year, the fund has reaped the rewards of advances in artificial intelligence and the surge in demand for semiconductor components.