Bumper profits for Norway’s giant wealth fund led by a strong performance by tech companies

Published January 30, 2024 4:54 AM

By MARK LEWIS
Associated Press

STAVANGER (AP) — Norway’s oil fund saw the largest annual return in its history in 2023 led by a strong performance by U.S. technology companies and the Danish weight loss drug manufacturer, Novo Nordisk. The world’s largest sovereign wealth fund which owns around 1.5% of all global listed companies reported that it had grown 16% having benefited from market excitement at the rapid adoption of artificial intelligence technology such as ChatGPT, and the sactioning of diabetes drugs for weight loss.

Article Topic Follows: AP-National

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