Australian with retirement savings? You probably own SpaceX

Many Australian superannuation portfolio's are invested in Elon Musk's company. Many Australian superannuation portfolio's are invested in Elon Musk's company. Artificial intelligence and technology stocks have become a driving force on Wall Street and, unbeknownst to most Australians, a growing part of their retirement savings . The so-called "magnificent seven" - chip maker Nvidia, Google owner Alphabet, Apple, Microsoft, Amazon, Facebook owner Meta and Tesla - are, for better or worse, increasingly part of the portfolios offered by superannuation funds. The average Australian super portfolio now has an estimated 12% of its investments in AI-related companies due to the massive growth of tech stocks in recent years, experts say.