Norway’s $2.2trn fund weighs SpaceX bet amid market losses

The world’s largest sovereign wealth fund investment vehicle is studying a possible stake in SpaceX, even as global markets remain shaky.

Norway’s $2.2 trillion fund said it is in talks with the rocket company, owned by Elon Musk. The fund’s deputy CEO, Trond Grande, confirmed that discussions are ongoing.

“We also have dialogue with SpaceX,” Grande told Reuters. When asked if the fund is reviewing an investment, he said: “That is what we are doing.”

SpaceX IPO Draws Institutional Investors Strategy Focus

SpaceX is expected to launch a SpaceX IPO that could value the company at about $1.75 trillion. If it happens, it may become one of the largest listings ever.

This has caught the attention of large funds and institutional investors strategy teams around the world. A move by Norway’s fund would be seen as a strong signal of trust in private space ventures.

Global Stock Market Volatility Pressures Big Funds

The talks come at a tough time for the fund. It reported a loss of 636 billion crowns ($68.44 billion) in the first quarter.

The drop was linked to global stock market volatility, driven in part by the war in the Middle East. This has forced large investors to rethink where they put their money.

Private Equity Infrastructure Meets Space Ambition

SpaceX is not just a rocket company. It builds satellites and runs Starlink, a growing internet network. This puts it at the center of private equity infrastructure plays.

For long-term investors, such assets can offer growth beyond traditional markets. But they also carry high risk.

Grande did not share details about how far talks have gone. Still, the fact that the fund is assessing the deal shows how serious the opportunity is.

If Norway moves forward, it could mark a shift. Public wealth may start flowing more into private space firms, a sector once seen as too risky.

Read also: SpaceX targets record $2trn valuation in blockbuster IPO filing