Australian investors shift focus to US technology stocks
Summarised from 2 outlets · Updated 3 Nov, 16:53 · Archive
Australian investors are increasingly buying US technology stocks ahead of a potential Anthropic share offer.
Australian investors are increasingly turning to US technology stocks, particularly in artificial intelligence, chip-making, software and space sectors, according to data from online investment platform Sharesight.
This shift comes ahead of an anticipated share offering by artificial intelligence company Anthropic, which owns the Claude chatbot. Anthropic is preparing to raise up to $US100 billion in a global public offering that could include stock for Australian retail investors before a US market listing by the end of November. If successful, the company would be valued at around $US1.5 trillion.
Sharesight's data shows that among high-end, younger and institutional wealth investors, US stocks now account for half of the most traded 20 holdings, up from eight stocks in the previous six-month period ending April. Popular US holdings include NVIDIA, Alphabet, SpaceX, Tesla, Microsoft, Amazon, Apple, Meta, Palantir and Micron. Sharesight chief executive Doug Morris said investors are 'quite bearish' about domestic Australian company prospects and are drawn to the growth potential of US technology firms. The trend follows SpaceX's listing earlier this year, which raised $US86.2 billion and attracted about 28,000 Australian investors.
How it is being reported
- Aussie investors hungry for US tech ahead of AnthropicMore Australian investors are turning their eyes to the US technology market, according to new data from an online investment portfolio tracking platform.The West Australian · 3 Nov, 16:32
- Aussie investors hungry for US tech ahead of AnthropicMore Australian investors are turning their eyes to the US technology market, according to new data from an online investment portfolio tracking platform.Perth Now · 3 Nov, 16:32
In this story: Anthropic · Sharesight · Doug Morris · Australia
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