100s of titles, one news app for just $10 a month.
Dive Deeper:
World's Biggest Sovereign Wealth Fund Cashes Out Of Rivian, Trims Tesla Stake, But Bulks Up On This Chinese EV Maker
Norges Bank, the central bank of Norway and the sponsor of the world's biggest sovereign wealth fund (the Norwegian Oil…
Why Alibaba, Tech Peers Are Slumping In Hong Kong Today
Shares of U.S.-listed Chinese tech firms traded in negative territory in Hong Kong on Thursday amid weak global cues.
15 Stocks Moved By Traders on 'Fast Money: Halftime Report'
CNBC’s "Fast Money: Halftime Report" delivers market-moving news to investors.
SoftBank reports record $13 bn full-year net loss
Tokyo (AFP) - Japan's SoftBank Group on Thursday logged a record annual net loss after a bruising period that saw…
One subscription that gives you access to news from hundreds of sites
SoftBank’s $100 billion fund lags behind after five years of investing
Vision Fund rode the tech boom up and is riding the tech bust down
SoftBank reports record $13 billion loss as tech shares tank
Tokyo (AFP) - Japanese investment giant SoftBank Group on Thursday logged a record annual net loss after a bruising year…
Get all your news in one place
Latest Technology news:
Travere Therapeutics Pops After Snagging Priority Review For A New Kidney Drug
The FDA accepted Travere Therapeutics' application for a kidney disease treatment on Monday, leading TVTX stock to surge higher.
Read news from The Economist, FT, Bloomberg and more, with one subscription
Learn More
US: Hyundai Motor Group "Breaks From BEV Pack" In Q1 2022
According to Experian's registration data for Q1 2022, Hyundai Motor Group has become the second biggest BEV player after Tesla…
Tesla Attempts To Help As Texas' Power Grid Is In Trouble Yet Again
After ERCOT alerted Texans to conserve energy during peak times, Tesla provided an in-car notification suggesting that owners not charge…
More Tesla Supercharger Cable-Cutting Exposed: Why Are People Doing It?
Tesla's Superchargers have been vandalized more often these days, with cable completely cut and stations targeted even before they open.…
Report: Tesla's Plan To Restore Full Production In China Is Delayed A Week
The Tesla Giga Shanghai plant is slowly resuming and increasing production, but it might take more time than initially expected…
From analysis to good news, read the world’s best news in one place
Bentley Flying Spur Hybrid review: Price, MPG, engine, range, and one annoying thing
As a plug-in EV stepping stone, the Flying Spur Hybrid does the job. But now I just really want a…
Elon Musk's Confidence In China Happens To Be Reciprocal
Officials in Shanghai helped Tesla cart over 6,000 employees and supplier employees to their jobs to help the automaker re-open…

Norwegian Central Bank Substantially Reduces Stakes In Alibaba And This Chipmaker: Here's What Norges Bought Instead

By Shanthi Rexaline

Amid the ongoing tech rout, Norges Bank made some cosmetic moves on its tech investments, barring a few liquidations and stake builds.

Norges Quits Facebook: Norges Bank, which operates the Oil Fund, exited its position in Meta Platforms, Inc. (NASDAQ:META). The biggest sovereign wealth fund also sold about three-fourths of its holdings each in Alibaba Group Holding, Inc. (NYSE:BABA) and Nvidia Corporation (NASDAQ:NVDA).

Alibaba's stock has been tumbling since late-2020, when the Chinese government first confronted the company for its anti-competitive practices and issues related to user data privacy. Although the sell-side is prepared to look past the near-term headwinds and focus on the long-term opportunity, big money has begun moving out of the stock.

Nvidia, meanwhile, has continued to execute and is seen as a winner among techs, given its massive market opportunity. Incidentally, the Norwegian bank more than tripled its stake in Nvidia in the fourth quarter.

Among the notable tech buys is the Chinese search engine Baidu, Inc. (NASDAQ:BIDU), along with Apple, Inc. (NASDAQ:AAPL), which continued to be among the bank's biggest tech holdings.

Related Link: Apple Said To Be Planning Instacart-Like Service And This Would Be The X Factor

Here're all the big tech stocks Norges Bank bought and sold in Q1:

What is inkl?
The world’s most important news, from 100+ trusted global sources, in one place.
Morning Edition
Your daily
news overview

Morning Edition ensures you start your day well informed.

No paywalls, no clickbait, no ads
Enjoy beautiful reading

Content is only half the story. The world's best news experience is free from distraction: ad-free, clickbait-free, and beautifully designed.

Expert Curation
The news you need to know

Stories are ranked by proprietary algorithms based on importance and curated by real news journalists to ensure that you receive the most important stories as they break.

Dive Deeper:
World's Biggest Sovereign Wealth Fund Cashes Out Of Rivian, Trims Tesla Stake, But Bulks Up On This Chinese EV Maker
Norges Bank, the central bank of Norway and the sponsor of the world's biggest sovereign wealth fund (the Norwegian Oil…
Why Alibaba, Tech Peers Are Slumping In Hong Kong Today
Shares of U.S.-listed Chinese tech firms traded in negative territory in Hong Kong on Thursday amid weak global cues.
15 Stocks Moved By Traders on 'Fast Money: Halftime Report'
CNBC’s "Fast Money: Halftime Report" delivers market-moving news to investors.
SoftBank reports record $13 bn full-year net loss
Tokyo (AFP) - Japan's SoftBank Group on Thursday logged a record annual net loss after a bruising period that saw…
One subscription that gives you access to news from hundreds of sites
SoftBank’s $100 billion fund lags behind after five years of investing
Vision Fund rode the tech boom up and is riding the tech bust down
SoftBank reports record $13 billion loss as tech shares tank
Tokyo (AFP) - Japanese investment giant SoftBank Group on Thursday logged a record annual net loss after a bruising year…
Get all your news in one place