ARENDAL, Norway, Aug 14 (Reuters) - Norway's $1.7

trillion sovereign wealth fund, the world's largest, posted a

profit of 1.48 trillion Norwegian crowns ($138 billion) in the

first half of the year as stock markets rose, the fund said on

Wednesday.

"The result was mainly driven by the technology stocks, due

to increased demand for new solutions in artificial

intelligence," CEO Nicolai Tangen said in a statement.

The fund's overall return for the period was 8.6%, 0.04

percentage point lower than the return on the fund's benchmark

index.

The fund, which invests the Norwegian state's revenues from

oil and gas production, is one of the world's largest investors,

owning on average 1.5% of all listed stocks worldwide. It also

invests in bonds, real estate and renewable energy projects.

($1 = 10.7122 Norwegian crowns)