As of January 1 this year, the State Oil Fund of Azerbaijan (SOFAZ) had invested a total of 8.986 billion manats ($5.29 billion) in shares of companies operating in the telecommunications and information technology sector.
According to Report, citing the Fund's financial statements, the value of these investments increased 18.8% compared with January 1, 2025.
Last year, seven companies from the telecommunications and information technology sector were among SOFAZ's 10 largest equity investments. By comparison, five companies from the sector were on the list in 2024.
The Fund's largest investment in the sector was in shares of NVIDIA Corporation (NVDA), amounting to 1.335 billion manats ($785.27 million), up 41% from 2024.
Apple Inc. (AAPL) ranked second with investments totaling 1.189 billion manats ($699.21 million). The company was not among SOFAZ's top 10 equity investments in 2024.
Microsoft Corporation (MSFT) completed the top three with investments of 1.006 billion manats ($591.85 million), up 17.5% year-on-year.
Investments in other technology companies stood at:
Alphabet Inc. (GOOGL, GOOG) - 988.271 million manats ($581.34 million), up 66%;
Broadcom Inc. (AVGO) - 456.727 million manats ($268.66 million), up 55%;
Meta Platforms, Inc. (META) - 422.056 million manats ($248.27 million), up 14.5%;
ASML Holding NV (ASML) - 257.866 million manats ($151.69 million). The company was not among SOFAZ's top 10 equity investments in 2024.