NVIDIA is the most popular US stock among Indian investors in global markets. According to data from two of the country’s international brokerage platforms for buying US stocks, Appreciate and Vested Finance, Nvidia remains the single most-bought US stock among Indian investors.
On Appreciate, Nvidia has drawn about a fifth of all buy orders across its ten most-bought stocks this year — roughly 1.6 times the stock in second place. Alphabet, Apple and Tesla follow. But the platform points out that five of these ten most-ordered stocks are semiconductor and memory names, together making up 51% of all orders in that top ten.
Vested Finance’s own list for the last six months tells a similar story, with Nvidia, Micron, Meta, Microsoft, Amazon, AMD, SanDisk, Broadcom, Google and Tesla making up its top ten.
The data from both the players show that technology stocks, including AI, semiconductor and chip stocks, continue to dominate the global portfolio of Indian investors.
Indian Investors Interest in SpaceX
SpaceX has only been listed since June 12, and it has already made its presence felt on both platforms. SpaceX runs three business segments— Space, Connectivity, and Artificial Intelligence- and investors are going crazy on its business model.
On Appreciate, it ranks eleventh overall by orders, but measured by orders per trading day since listing, it beats every stock ranked above it. It has been the most-traded US stock on the platform since listing, with about a third more trades than Nvidia.
Vested Finance reports SpaceX made up 3.8% of all stock and ETF trading on its platform since listing, effectively running neck-and-neck with Nvidia over the same window. Its buy-to-sell ratio of 2.41:1 was the highest of any name in Vested’s top 15, with net accumulation at 41% of total volume traded.
However, Indians are not betting big on SpaceX. “SpaceX is ranked fifth, behind Alphabet, a broad S&P 500 index fund, SanDisk and Micron — with the average SpaceX order running at roughly a quarter the size of the average Alphabet order. In other words, SpaceX is being treated less like a core holding and more like a small satellite position in an otherwise diversified portfolio,” says Shlok Srivastav, Co-founder & COO, Appreciate.
Money is quietly moving from AI chips to memory chips
Perhaps the most telling trend across both platforms is a rotation happening within the semiconductor trade itself, away from compute and toward memory and storage.
Appreciate’s data shows three of its seven largest stock positions this year are memory and storage names — SanDisk, Micron and Western Digital — together accounting for about 37% of the money in that group, roughly 1.7 times what has gone into Nvidia.
Vested Finance sees the same pattern from a different angle. “Micron has overtaken Nvidia as the number one name on its platform since June, and SanDisk — absent from its top ten last year — has now broken in. Memory and storage together make up roughly 18% of all stock volume on the platform,” says Viram Shah, Founder & CEO, Vested Finance.
Both platforms also flag space and defence emerging as a theme rather than a single-stock bet. Vested notes SpaceX, Rocket Lab (new to its top 20) and a dedicated ‘Defense & Security’ managed portfolio have all found a place among investors.
How Much to Invest Globally
So how much should you actually put into global markets? On ideal allocation, the two platforms converge on a similar range, even while framing it differently.
Appreciate notes that about 97% of global market capitalisation sits outside India, and for a serious long-term investor, 35-40% in US and global assets is the right structural weight — reached gradually over several years as portfolio size and familiarity grow.
The platform points to two supporting factors: Indian and US equities have moved at a long-run correlation of roughly 0.4, meaning the two markets don’t move in lockstep, and the rupee has weakened against the dollar by roughly 4.5% a year since 1991, which lifts the rupee value of dollar assets independent of how the asset itself performs.
Vested Finance offers a more graduated range: 10-15% for someone starting, and 20-30% for a more experienced investor, but stresses that currency exposure, not experience alone, should drive the decision. If an investor’s financial goals are entirely rupee-based, global exposure works mainly as a diversifier, and the lower end suffices. But if there are genuine dollar liabilities ahead — a child’s overseas education, time likely to be spent abroad — a higher allocation makes more sense.
Taken together, the message from both platforms is consistent: Indian investors are no longer just chasing the biggest AI names. They are diversifying within the AI trade itself and keeping up with the changing investing themes globally.
Disclaimer: This article provides factual analysis only and is not, and should not be construed as, an offer, solicitation, or recommendation to buy or sell securities. The article is based on trading and platform data shared by Appreciate and Vested Finance and reflects their respective assessments of Indian investor behaviour in US markets. Investments in US stocks, ETFs, and global funds are subject to market risk, currency fluctuation, and regulatory changes such as LRS limits and overseas investment quotas. Readers should consult a certified financial advisor before making any investment decisions. Financial Express is not responsible for any decisions made based on this information.