The chief executive of Norway's gigantic sovereign wealth fund on Tuesday said there is "clearly a lot of froth" in the tech sector, suggesting that whether there is too much of it could depend on this week's tech earnings bonanza.
U.S. tech behemoths including Tesla , Meta , Microsoft and Google parent Alphabet are all scheduled to release results in the coming days.
"If I look at what we can read out of the current market, I would say that there is clearly a lot of froth within the technology sector.
The world's largest sovereign wealth fund, which was valued at 17.7 trillion kroner ($1.6 trillion) at the end of March, was established in the 1990s to invest the surplus revenues of Norway's oil and gas sector.
To date, the fund has put money in more than 8,800 companies in over 70 countries around the world, making it one of the largest investors across the globe.
Persons:
Nicolai Tangen, CNBC's, NBIM
Organizations:
Meta, Microsoft, Google, Elon Musk's EV, Tesla, Nasdaq, Nvidia, Norges Bank Investment Management, Government Pension Fund
Locations:
U.S