OpenAI could file for IPO this week, teeing up showdown with SpaceX
The ChatGPT maker could go public as early as September.
Investing
Billionaire to snap up Australian coking coal mines for US$3.9 billion
Under the deal, Indonesian billionaire Alexander Ramlie’s UK-based Dhilmar will pay $2.3 billion in cash upon the completion of the transaction in the first quarter of 2027 and an additional of up to $1.6 billion depending on the price of coking coal within five years after the deal’s close.
Nvidia hits record $5.5 trillion value. First company to ever reach mark
Shares of the AI juggernaut are up nearly 20% in the last four weeks.
Australian billionaires’ Chemist Warehouse chain begins UK expansion
Sigma Healthcare will license the Chemist Warehouse brand and provide inventory management and marketing support to Greenlight’s 22 stores across London.
Live: RBA Rate Decision Tracker
From aggressive hikes to the first cuts of the cycle, the Reserve Bank’s policy moves have reshaped mortgages, business borrowing and the economy. Below, we break down every rate decision since 2023.
AI music generator Suno eyes $5 billion valuation after latest funding round
Suno has already attracted more than 100 million users despite facing pushback and lawsuits from the music industry.
Billionaire snaps up Gold Coast hotel, retail complex for $346 million
Forest Endeavour—controlled by Taiwanese billionaire Lin Chen-hai—has acquired the Paradise Centre and Novotel Surfers Paradise in Australia’s Gold Coast for $250 million.
Mark Zuckerberg says AI costs contributed to layoffs of 8,000 staffers
Meta plans to slash 8,000 jobs at the company, accounting for 10% of its workforce.
Key moments in Elon Musk’s trial against Sam Altman: ‘I was a fool’ to fund OpenAI
Tesla billionaire Elon Musk reportedly declared, “Without me, OpenAI wouldn’t exist,” on the witness stand Wednesday as his testimony in his trial against Sam Altman stretches into a second day.
OpenAI investors Nvidia and Oracle fall after AI giant misses revenue target: reports
One executive told employees that OpenAI may be unable to fund future computing contracts.