Boman Group’s Eric Gao Warns AI Boom Is Passing Australia By
Australian Financial Review
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Details
- Date Published
- 17 May 2026
- Priority Score
- 2
- Australian
- Yes
- Created
- 17 May 2026, 12:00 pm
Description
Boman Group chief executive Eric Gao bought into Anthropic and OpenAI. He wishes there were more Australian AI firms to invest his fund’s $1 billion of capital.
Summary
This article details concerns from Boman Group CEO Eric Gao regarding Australia's lack of investable frontier AI companies compared to global leaders like Anthropic and OpenAI. While focusing on investment opportunities in robotics and digital assets, the narrative highlights a domestic gap in developing the high-level AI capabilities that define current global competition. The lack of indigenous frontier AI development in Australia may have long-term implications for the nation's ability to influence global AI governance and safety standards from a position of technical leadership. It underscores a shift in capital toward international labs that are at the center of discussions regarding catastrophic risks and safety guardrails.
Body
TechnologyAIPrint articlePaul SmithTechnology editorMay 17, 2026 – 8.00pmAs chief executive of Boman Group, a fund manager that invests the money of wealthy Chinese Australians in global artificial intelligence giants like Anthropic, OpenAI and Databricks, Eric Gao says he is struggling to find Australian AI companies worth backing, as the firm passes a milestone of $1 billion in funds under management.Boman Group invests across Asia and further afield and is looking to make its first deals with Chinese companies, after a protracted process that saw it take two years securing licences to operate in China. Gao said the 15-year-old company was seeing great opportunities to buy in frontier AI companies, robotics and digital assets, and was keen to invest in the highly anticipated SpaceX public float.Loading...SaveLog in or Subscribe to save articleShareCopy linkCopiedEmailLinkedInTwitterFacebookCopy linkCopiedShare via...Gift this articleSubscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? LoginLicense articleFollow the topics, people and companies that matter to you.Find out moreRead MoreAIVenture capitalFinancial plannersOpenAIAnthropicFetching latest articles