Sovereign wealth funds are increasingly aligning investment strategies with national priorities over pure financial returns, focusing on artificial intelligence and semiconductors, according to a study by Spain-based IE University. The report found that these funds collectively manage more than $15 trillion in assets. Direct investments declined 17% from the previous reporting period to 391 transactions, while total deal value surged 91% to $404 billion compared with IE University's 2024 report, reflecting a preference for fewer but larger investments. AI-related transactions accounted for roughly one-third of the capital tracked, with sovereign investors backing companies such as OpenAI, Databricks, and Stargate. Abu Dhabi-based MGX invested in OpenAI and participated in funding for xAI alongside the Qatar Investment Authority and the Oman Investment Authority. Qatar Investment Authority and Singapore's GIC were among investors in Anthropic's $13 billion funding round. The United States remained the largest investment destination, attracting $220.4 billion during the 18 months through December 2025, largely due to its AI leadership. Singapore's Temasek recorded the highest number of transactions, completing 71 deals.