Sovereign Wealth Funds' AI Holdings: Norway's NBIM in Focus (Aug 2026)
The world's largest sovereign fund, Norway's NBIM, and its AI-core holdings in NVIDIA, TSMC, Apple, Microsoft and more — plus the verifiable US positions of Temasek, PIF and others. NVIDIA is now NBIM's single largest holding.
| Fund | AUM | NVIDIA holding | TSMC holding | Other key AI holdings | Disclosure |
|---|---|---|---|---|---|
| Norway NBIM (GPFG) | ~US$2.0–2.2tn (world's largest) | ~US$62B, 1.28% ownership (single largest holding) | ~US$34B, ~1.7% ownership | Apple $52B, Alphabet $50B, Microsoft $35B, Broadcom (top-3 return driver) | 🟢 Fullest (all holdings, semi-annual) |
| Singapore Temasek | ~US$37B US 13F positions | US$1.64B (trimmed/profit-taking) | Not in 13F top list (TW-listed not in 13F) | Alphabet $3.2B, Broadcom $1.4B, Microsoft $0.99B, new ASML stake | 🟡 US 13F only |
| Saudi PIF | ~US$0.9–1.15tn | No public equity disclosed (AI exposure via private/infra) | None disclosed | US 13F led by Uber/EA/Lucid; almost no pure-AI names | 🟡 AI names not detailed |
| Singapore GIC | ~US$936B | Per-line not obtained (has 13F, fetch blocked) | uncertain | uncertain (annual report gives only asset/geo mix) | 🔴 Per-stock opaque |
| Abu Dhabi ADIA / Mubadala | ADIA ~$1.19tn / Mubadala ~$385B | ADIA barely discloses; Mubadala has 13F, not obtained | None disclosed | Broadly US equities + AI data-center investments | 🔴 Opaque |
Method & sources
**Scope**: sovereign funds vary hugely in disclosure; only Norway's NBIM publishes all holdings semi-annually (with both market value and ownership %), so this table is **anchored on NBIM**. Temasek and PIF show only their verifiable US 13F positions (market-value basis, US-listed only, a small slice of total assets); GIC, ADIA and Mubadala are opaque, so per-stock cells are marked uncertain rather than fabricated. **Bases**: NBIM's "%" is ownership of the company (not % of the fund); USD is market value. NBIM holdings as of 2026-06-30 (H1 report); full per-line disclosure is in the 2025 annual report. Temasek/PIF are 2026-06-30 13F (read via a third-party aggregator; verify at SEC EDGAR before publishing). **Excluded bad data**: an aggregator listed unlisted SpaceX among 13F top holdings (implausible) — not used. Sources: NBIM annual report https://www.nbim.no/en/news-and-insights/reports/2025/annual-report-2025/web-report-annual-report-2025/ ; CNBC (NBIM H1) https://www.cnbc.com/2026/08/12/norway-sovereign-wealth-fund-spacex-nvidia-apple-nbim.html .
Source: https://www.cnbc.com/2026/08/12/norway-sovereign-wealth-fund-spacex-nvidia-apple-nbim.html
Retrieved: 2026-08-26
FAQ
- What does "Sovereign Wealth Funds' AI Holdings: Norway's NBIM in Focus (Aug 2026)" cover?
- It covers Norway NBIM (GPFG), Singapore Temasek, Saudi PIF, Singapore GIC, Abu Dhabi ADIA / Mubadala, compared across: Fund, AUM, NVIDIA holding, TSMC holding, Other key AI holdings, Disclosure.
- What are the sources and methodology?
- **Scope**: sovereign funds vary hugely in disclosure; only Norway's NBIM publishes all holdings semi-annually (with both market value and ownership %), so this table is **anchored on NBIM**.
- When was this data last updated?
- The data was retrieved/updated on 2026-08-26.