Explaining Firmus and its $44 billion IPO collapse
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.
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Nike shares edge lower after converse ad controversy, Mbappé exit
Nike shares dipped slightly early Monday morning after a rough weekend, including an apology for a Converse ad that critics said evoked racist imagery and the loss of one of its biggest advertising stars, though its stock price is still down from last week.
‘Ridiculous’ AI extinction fears are a cybersecurity investment opportunity, says Cathie Wood
Cathie Wood, one of the world’s most famous tech investors, told Australian media that an Anthropic researcher’s warning AI could lead to humanity’s extinction is “ridiculous.” But there is investment opportunity amid the fear generated, she says.
Malaysian Energy Tycoon Lim Hang Weng In Talks To Take Yinson Holdings Private In $1.7 Billion Deal
Yinson Holdings is among the world’s biggest operators of floating, production, storage and offloading, or FPSO vessels, which are on long-term leases to oil and gas companies in Angola, Brazil, Ghana, Nigeria, and Vietnam.
Xero investors protest CEO’s new $25.5m pay pack
Over 70 per cent of eligible shareholders voted against the Xero board’s decision to award Sukhinder Singh Cassidy a target pay package of $25.5 million amid the company’s stock struggles. Key Takeaways Key Background Earlier this week Xero’s board rewarded chief executive Sukhinder Singh Cassidy with a 22 per cent pay rise, lifting her target […]
How Josh Kushner’s fortune tripled this year
The Kushner scion’s VC firm Thrive Capital nearly tripled its assets thanks to smart bets on OpenAI and SpaceX. Now he’s looking to spend some cash on the NBA’s Lakers.
NSW pushes Goodman to back fresh power for $5.5 billion AI factory
Goodman Group’s 500MW Project Atlas campus will be one of Australia’s biggest data centres. The Department of Climate Change, Energy, the Environment and Water is pressing it to explain where it’ll get its power from. Key Takeaways The NSW Government is pushing property giant Goodman Group to support new renewable energy projects to power its […]
Atlassian defies ‘SaaSpocalypse’ fears, jumps 35% after strong earnings
Mike Cannon-Brookes handed down what could be a landmark earnings report for Atlassian, with the company swinging from a US$24 million loss a year ago to US$139 million of profit. Key Takeaways Key background It has been a tough year for Atlassian investors – before these earnings, its stock was down 40 per cent over […]
US Dow Jones posts its worst day of the year after Federal Reserve holds interest rates
Kevin Warsh, who began his role as chairman of the Federal Reserve in May, said Wednesday officials have “no tolerance for persistently elevated inflation.”
Xero executive quietly departs amid SaaSpocalypse slump
Xero’s chief people officer, charged with driving the company’s “performance-driven culture”, departed the ASX accounting giant earlier this month.