‘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.
Stocks
Nvidia chief Jensen Huang’s net worth falls below $200 billion mark as tech stocks drop
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.
Anthropic will let Australia stress test dangerous new models
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.
Elon Musk becomes a trillionaire again after SpaceX stock soars
Musk first hit trillionaire status briefly in June.
RBA hikes cash rate by 25 basis points to highest level in 15 years
The economy is slowing but inflation remains persistent, the Reserve Bank of Australia stated today. The cash rate is now 4.60 per cent, the highest since 2011. Mortgages are about to become even more expensive, the RBA announced today as it bumped the cash rate 25 basis points to 4.60 per cent – the highest […]
Crowdstrike skyrockets 14% as AI fears send cybersecurity stocks surging
Leaders in artificial intelligence have called for a slowdown to AI development amid fears the technology could lead to human extinction.
He’s quietly invested in Australia’s biggest space tech startups. Now he’s moving to launch a $150m fund
Will Scully-Power has for the past two been investing in Australian space startups. Now he’s looking to launch a VC fund.
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 […]
Trump made big stock trades in SpaceX, Palantir and tech companies in June
The president made over 1,000 stock transactions, according to the most recent disclosure form released on Saturday.
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.