The largest World State Wealth Fund reports a profit of $ 222 billion

The Sovereign Fund of Wealth in Norway – the largest of its kind in the world – published A year -round profit of $ 2.5 trillion ($ 222.4 billion) on Wednesday, fueled by a technological rally.

The Global Government Pensions Fund was rated at 19.7 trillion kronori at the end of 2024, a report on Norges Bank Bank (NBIM) said. The return on the fund’s investment is 13% for the year, 45 basic points lower than the return on its reference index.

“The fund achieved a very good return in 2024 as a result of a very strong stock market. US technological shares performed more well,” Norges Bank Investment Management Nicolai Tangen said in a statement.

By speaking at a press conference on Wednesday, NBIM’s Deputy Executive Director has identified a “very, very strong year for shares” as the largest engine of the fund’s return in 2024.

More concretely, he noted that the return was conditioned by certain sectors, especially as a result of boom In technological shares.

“The technology (was) really strong, led by AI, and also financial resources due to interest rates, is higher in a long time,” he said.

NBIM manages the fund on behalf of the Norwegian population. Established in the 1990s to invest excess revenue from Norway’s oil and gas industry, the Fund is currently an investor in more than 8,000 companies in 63 countries.

The Fund is a shareholder in global companies, including technology giants Apple. Microsoft. Nvidia and Amazonwith 70% of his reference index consisting of shares.

The sovereign fund of wealth also invests in fixed income, including governmental and corporate bonds, as well as in real estate infrastructure and renewable energy.

American technological stocks were variable this week after Chinese AI Laboratory Deepseek released a free model with a big tongue with an open source This said it was faster and cheaper to produce than those of his main rivals.

Development caused Wall Street’s technological saleWith AI Darling Stock Nvidia – in which the Norwegian Sovereign Wealth Fund has a 1.3% share – Downhill nearly 17% on MondayS

Tangen touched the appearance of Deepseek during a press conference on Wednesday.

“The fact that there are now more expensive language models is positive, it is positive for the democratization of artificial intelligence,” he said. “So you need to get more entering this technology into the world when the price is lower, so it’s a common positive.”

Tangen admitted that he did not know if the recent technological sale was BLIP or will become a long -term trend.

“We had a little overweight in major technology companies, it’s not very big, but we didn’t make big changes after Monday,” he said.

“I think (Deepseek’s development) came as a surprise for the whole world or you would not see these market reactions,” he said, noting that the people he was talking about believed that China was about two years behind the USA for the developments of AI.