Norway's sovereign wealth fund, the world's largest with about USD 2.3 trillion in assets, disclosed for the first time that it owns a 0.05% stake in SpaceX valued at roughly USD 1.22 billion as of June 30, 2026 [1, 2, 3, 4, 5, 6, 7, 8, 9].

The fund also holds significant positions in several leading technology companies, including Nvidia (1.28%, USD 62 billion), Apple (1.24%, USD 52 billion), Alphabet (1.17%, USD 50 billion), Microsoft (1.27%, USD 35 billion), and Taiwan Semiconductor Manufacturing Co. (TSMC) with 1.7%, valued at approximately USD 340 billion [1, 2, 3, 4, 5, 6, 7, 8, 9, 10].

SpaceX's stock surged following its record-setting IPO in late June but later declined amid concerns over its valuation, which stands at 77 times estimated revenue, and governance issues related to founder Elon Musk's control [1, 3, 6, 7, 8, 9]. Musk retains over 80% of SpaceX's voting rights while serving as board chairman, CEO, and CTO, raising questions about independent shareholder rights, including those of the fund [1, 3, 6, 8].

The fund invests revenues from Norway's oil and gas production. It holds stakes averaging about 1.5% in nearly 7,100 listed companies worldwide, demonstrating a broad global footprint [1, 2, 3, 4, 5, 6, 7, 8, 9].

As of June 30, 2026, it holds 333 Taiwanese stocks valued at USD 61.9 billion (about 6,126.74 billion Norwegian krone), accounting for 2.7% of its global investments. TSMC remains the largest Taiwanese holding at about USD 335 billion [9, 10, 11]. During the first half of 2026, the fund added 14 Taiwanese stocks and removed 20, boosting holdings in companies such as MediaTek and Yageo while Foxconn fell out of its top three Taiwanese positions [10, 11].

Elon Musk recently announced plans for a massive semiconductor fab called 'Terafab' in Texas, with an initial investment of USD 16.8 billion that has drawn significant industry attention [3, 4, 5, 6, 7, 8, 9].

Norway’s fund reported a 9.4% investment return for the first half of 2026. Detailed half-year results were released today, August 12, 2026, including disclosures on Taiwanese holdings and space sector investments [7, 9, 10, 11]. Nicolai Tangen, CEO of Norges Bank Investment Management, said the strong performance was driven mainly by stock market returns, especially contributions from Asian tech stocks [9].