Norway’s $2.2 trillion sovereign wealth fund discloses first-ever SpaceX stake worth $1.22 billion

Norway's sovereign wealth fund reported a record profit of $184 billion, with half-year returns exceeding 9%. The $2.3 trillion fund disclosed its first-ever SpaceX stake valued at $1.22 billion, marking a strategic move into aerospace. Despite these results, CEO Nicolai Tangen warns that gains may not continue. He expressed caution regarding geopolitical conflict, inflation, and AI valuations, suggesting a potential AI bubble burst could reduce the fund's overall value by as much as 35%.