Xero says its share price doesn’t reflect its true value. It plans to buy back up to A$1 billion of stock over the next 12 months to help fix that. Xero will spend up to $1 billion purchasing its own stock over the next year as the Kiwi accounting giant tries to reverse a year-long […]
David Jones fell into both voluntary administration and receivership last week amid piling debt. Now its administrator is kicking off a rapid sale process. Prospective buyers of David Jones have until Friday afternoon to express interest as administrators McGrathNicol kick off a sale process for the iconic retailer after its collapse last week. Formal advertisements […]
Australian, Nasdaq-listed neocloud Sharon AI is hiring staff and looking to raise capital for a data centre campus in regional New South Wales, to be delivered by a mysterious “affiliated venture.” In September Australian neocloud Sharon AI confirmed it had bought a retired paper mill in Albury, a regional city between Sydney and Melbourne. It […]
While NextDC reels from a costly delay to a flagship campus, Robin Khuda’s AirTrunk has secured a fresh batch of billions.
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 […]
National Australia Bank will eliminate up to 2,500 roles by the end of the 2027 financial year, represent 6 per cent of the bank’s total workforce. National Australia Bank will cut up to 2,500 roles in an internal restructure it says will help it cope with a tough economy and rapid technological change. NAB expects […]
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.
Nvidia and Oracle stock fell on Thursday afternoon after a report that OpenAI’s annualized revenue as of September was around $20 billion lower than prior estimates.
The AI giant told a parliamentary enquiry that it is finalising an arrangement for Australian safety researchers to evaluate its latest and greatest (and most threatening) models.
Musk first hit trillionaire status briefly in June.