The world's largest sovereign wealth fund, the $2.3 trillion Norway Sovereign Wealth Fund, has disclosed for the first time that it holds a 0.05% stake in SpaceX.
The fund's stake in hashtag#SpaceX remains quite limited when compared to the other technology stocks in its portfolio. Source: ATA CAN
The US is generating almost 2/3 of OECD profits...
Warren Buffet: "Never bet against america" Source: Bloomberg
Four companies now spend like a superpower.
Hyperscaler AI capex is on track for ~$733B in 2026, about 87% of the base US defense budget.
Wall Street has been buying Leopold Aschenbrenner's book
• Nebius $NBIS *Goldman Sachs disclosed a 10.5% in August • SanDisk $SNDK *Jane Street disclosed a 5% stake in August • Core Scientific $CORZ *Citadel disclosed a 6.5% stake in August • CoreWeave $CRWV *Magnetar holds 14.9%, Goldman holds another 8.1% • Applied Digital $APLD *Jane Street disclosed a 7.1% stake in May • IREN $IREN *Bank of America disclosed a 5.8% stake in June His Q2 13F is due in 3 days and his updated holdings will be public Source: Leopold Stock Tracker
“Virtually nothing matters more to markets at present than the AI buildout. It’s such a sudden and massive stimulus for the US that it has shifted macroeconomic data. "
Columbia Business School’s Stijn Van Nieuwerburgh argues that without it, the US would be in recession. He estimates AI infrastructure investment at roughly 2.8% of GDP, larger than the railroad boom, and it’s projected to keep rising Source: Annmarie Hordern Bloomberg
Norway Sovereign Wealth Fund H1 2026 results in a nutshell Record $184B profit... but tech-driven gains + SpaceX are the real story
Source: Emmanuel – Big Tech & AI Investor
Starlink has a lot of room left to grow into, telecom is a truly massive market.
Source: Christian Keil
US stock market concentration is at unprecedented levels
US tech stocks now account for nearly 50% of US stock market capitalization, an all-time high. This is ~9 percentage points above the 2000 Dot-Com Bubble peak. The top 10 stocks alone represent a record 40% of the S&P 500's market cap, ~13 percentage points above the Dot-Com Bubble peak. Source: Global Markets Investor
