WSJ Tech News Briefing TNB Tech Minute: Norway's Wealth Fund Trims Holdings of U.S. Tech Stocks
17 snips
Jan 29, 2026 Christoph Beck, Ecolab chairman and CEO who advises on water-use efficiency and sustainability for data centers, speaks during the sponsor segment. The conversation touches on Norway’s wealth fund trimming some US tech stakes. It also highlights Tesla repurposing its Fremont plant for robots and Dow’s AI-driven job cuts and cost-savings plans.
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Norway Adjusts Tech Exposures
- Norway's sovereign wealth fund trimmed stakes in top U.S. tech names while raising others like Amazon and ASML.
- The fund benefited from the tech surge but its CEO warned uncertainty about a potential bubble.
Fremont To Shift From Cars To Robots
- Tesla will convert Fremont's Model S and X plant to produce Optimus robots as it winds down those car lines.
- Elon Musk said Tesla aims for long-term Optimus production of about one million units a year at the factory.
Dow's AI-Led Cost Overhaul
- Dow is cutting 4,500 jobs under a program called Transform to Outperform that leans on AI and automation.
- The company expects $2 billion in additional operating EBITDA but will record $1.1–$1.5 billion in one-time charges.