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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 […]

  • By Daniel Van Boom
  • Business Journalist

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.”

  • By Antonio Pequeño IV

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.

  • By Daniel Van Boom
  • Business Journalist

Anthropic, OpenAI, Google respond to Albanese’s AI announcement

Prime Minister Albanese was emphatic in today’s AI address that Australian writers, musicians, artists and journalists will retain copyright to their works. Here is how Anthropic and OpenAI responded.

  • By Shivaune Field
  • Business Journalist

Asides

IBM shares crashed 25% in worst day ever. Here’s why

“What played out was worse than our expectations,” CEO Arvind Krishna warned investors.

  • By Ty Roush
  • Forbes Staff
Brendan Smialowski/AFP/Getty Images

How OpenAI plans to win over doctors, patients and hospitals

The AI juggernaut is all-in on the healthcare industry, launching three new products in the last six months. But it needs to make sure ChatGPT is accurate enough for the millions of people who already use it for health advice.

  • By Amy Feldman

Investor demand for SpaceX IPO tops $250 billion, reports

The $75 billion SpaceX seeks to raise in its historic IPO would value the company at roughly $1.77 trillion.

  • By Antonio Pequeño IV
OpenAI

OpenAI says it filed paperwork to go public

OpenAI said it has not decided exactly when the IPO would take place.

  • By Zachary Folk

Google’s AI chief says we’re in the ‘foothills of the singularity’. Here’s why that matters

As machine capability shifts from passive responses to autonomous operation, the concept of singularity – coined in the academic realm and adopted by science fiction – is one every professional needs to know.

  • By Shivaune Field
  • Business Journalist

Michael Dell’s net worth surges up $35 billion, passing Zuckerberg as 6th richest

Analysts called Dell’s latest earnings “one of the most impressive quarters we’ve seen in our time covering hardware.”

  • By Ty Roush
  • Forbes Staff
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