Norges Bank Investment Management, the world’s single-biggest owner of publicly traded stocks, increased its holdings in Apple, Microsoft and Nvidia from a year earlier, according to a list of holdings the fund published on its website.
Norway’s US$1.8 trillion ($2.43 trillion) wealth fund ended 2024 with a tech-heavy top 10, just as the success of the artificial intelligence model developed by Chinese startup DeepSeek raises the spectre of a correction in the AI-driven stock rally.
With technology stocks accounting for nine out of its 10 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.
