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Aussie investors hungry for US tech ahead of Anthropic
Australian investors are increasing their appetite for US tech stocks ahead of Anthropic's planned share offering.
Key points
- Anthropic is preparing an initial global public offering of up to $US100 billion ($A143 billion) that could include Australian retail stock.
- Ten of the 20 most traded stocks on Sharesight were US-listed in the six months to October 9, up from eight.
- CSL's share price hit a nine-year low around $90 in June and has since recovered to just over $198 on Tuesday.
Why it matters. The offering could shift how local investors divide their money between domestic dividend stocks and US growth shares, and a prospectus is expected to be filed soon with the Australian Securities and Investments Commission.
Australian investors are seeking more exposure to high-growth US technology stocks, setting up strong demand for any local tranche of Anthropic's initial global public offering of up to $US100 billion ($A143 billion). Assuming it succeeds, the AI company would have a market value of around $US1.5 ($A2.1) trillion. Sharesight chief executive Doug Morris told AAP there is pent-up demand from retail investors.
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Aussie investors hungry for US tech ahead of Anthropic
More Australian investors are turning their eyes to the US technology market, according to new data from an online investment portfolio tracking platform. Australian investors are seeking more exposure to high-growth US technology stocks, setting the stage for strong demand for any local share offer by artificial intelligence giant Anthropic. The Claude AI chatbot owner is preparing to raise up to $US100 billion ($A143 billion) in an initial global public offering that could include a tranche of stock for Australian retail investors, ahead of a US market listing by the end of November. Assuming it's successful, Anthropic will have a market value of around $US1.5 ($A2.1) trillion, trumping Elon Musk's SpaceX listing earlier this year, which raised $US86.2 billion ($A123.2 billion) and issued scrip to about 28,000 Australian investors. According to online investment portfolio tracking platform Sharesight, local investors have already been increasing their bias toward US companies, which now make up half of their most traded 20 stocks. That includes a shift in appetite to technology stocks, particularly in the chip, hardware, software, space and AI infrastructure sectors, mainly because of the promise of high growth and high returns. Those performances, in combination with doubts about the prospect for growth for domestic companies on the local exchange, are weighing on the minds .