Australian shares ended higher on Tuesday following overnight gains on Wall Street after Anthropic filed a prospectus for an initial public offering, generating optimism over demand for artificial intelligence.
The S&P/ASX 200 Index rose 40.20 points, or 0.46%, to close at 8,850.10.
Anthropic, the developer behind the Claude chatbot, disclosed in its IPO filing first-half revenue of $16.3 billion, more than tripling the $4.6 billion it recorded in full-year 2025. The company is targeting a valuation of $1.5 trillion to $2 trillion and could list in November.
In overnight US trading, the S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average rose 0.7%, 0.8%, and 0.3%, respectively.
On the ASX, mining stocks led the rally with a rise of 2.5% as the price of copper ticked higher, with the energy and real estate sectors also posting gains.
In economic news, the ANZ-Roy Morgan Australian consumer confidence index rose 0.2 points to 67.9 in the week through Oct. 25, although the four-week moving average fell 0.6 points to 67.7.
On the corporate front, Star Entertainment Group's (ASX:SGR) shares surged past 17% after the company swung to earnings before interest, taxes, depreciation and amortization of AU$12 million in the first quarter of fiscal 2027 from a loss of AU$13 million a year earlier.
Woodside Energy Group (ASX:WDS) shares closed marginally higher after the company agreed to sell its participating interest in the Sunrise joint venture to Timor Gap for up to $200 million.
Sandfire Resources (ASX:SFR) disclosed fiscal first-quarter copper equivalent production of 38,900 tonnes, up from 35,600 tonnes a year earlier, and also reported further high-grade polymetallic massive sulfide mineralization at the La Juliana Prospect in Spain. Its shares ended over 2% higher on Tuesday.
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