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Entrepreneurs

‘Whole new revenue opportunity’: Canva bets big on Craft foundation model

Canva has debuted its first foundation model, called Craft, which competes with image generation tools from OpenAI, Google and others. Canva on Friday released Craft, a foundation model that outperforms competition from Google, Elon Musks’s xAI and Microsoft while allowing the design giant to more cheaply offer its own AI wares. Canva began building Craft […]

  • By Daniel Van Boom
  • Business Journalist

How bootstrapped wellness startup KIC is building the female hydration market

KIC founders Laura Henshaw and Steph Claire Smith are entering brick-and-mortar retail, launching a hydration line specifically for women.

  • By Shivaune Field
  • Business Journalist

‘Confidence evaporated’: Explaining Firmus’ $44 billion IPO flop

The “AI factory” developer, founded by Oliver Curtis and Tim Rosenfield, attempted to hit the ASX later this month with a market value of over $40 billion. Investors balked.

  • By Daniel Van Boom
  • Business Journalist

Firmus absorbed 70% Australian startup funding before attempted IPO

Q3 was the biggest fundraising quarter on record for the Australian startup sector. However, 69 per cent of funds went to Firmus.

  • By Daniel Van Boom
  • Business Journalist

Asides

Diraq scores $73 million in US defence race against quantum heavyweights

Diraq has progressed to the third and final stage of a quantum computing program run by the US Department of Defense. It comes with US$51 million in funding – with a possibility of another US$249 million.

  • By Daniel Van Boom
  • Business Journalist

Elon Musk becomes a trillionaire again after SpaceX stock soars

Musk first hit trillionaire status briefly in June.

  • By Alison Durkee
  • Forbes Staff
Ed Craven

Australia’s youngest billionaire Ed Craven places his next big venture bet

Maincode, the AI lab building Australia’s first sovereign LLM, is spinning up a venture capital arm its hopes will turn leaders in finance, healthcare and entertainment into disruptors.

  • By Daniel Van Boom
  • Business Journalist

White House releases ‘Accord’ between billionaire AI execs: Here’s what it says

The agreement between tech billionaires is “morally binding,” Trump said.

  • By Sara Dorn
  • Forbes Staff

$790 million medtech Harrison.ai reveals revenue surge after restructure culling 15% of staff

Harrison.ai founders Aengus and Dimitry Tran say their $789 million startup is reorganising to prepare for a commercialisation drive at home and abroad – but that R&D remains in Australia. Harrison.ai cut 15 per cent of its workforce earlier this year in a restructure founders Aengus and Dimitry Tran say will allow it to put […]

  • By Daniel Van Boom
  • Business Journalist

Billionaire Taylor Swift announces surprise new single ‘Patient Zero’

New song “Patient Zero” will be released on Friday, billionaire pop star Taylor Swift said in a surprise announcement Tuesday afternoon.

  • By Conor Murray
  • Forbes Staff
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