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Megaport secures 4 AI deals, to raise $594 million to build inference cloud
Megaport secures 4 AI deals, to raise $594 million to build inference cloud June 3 : Australia's Megaport said on Wednesday it has secured four new AI infrastructure contracts worth A$458.9 million and will raise A$827.3 million ($594 million) to build an inference cloud to cash in on surging demand for AI-related facilities. The deals underscore the fierce race among infrastructure providers to capture a share of the booming AI compute market, as firms across industries scramble to secure...
India's IT stocks head for worst day in 4 months on AI disruption worries; TCS plunges 9%
India's IT stocks head for worst day in 4 months on AI disruption worries; TCS plunges 9% June 3 : India's information technology stocks were headed for their worst day in four months on Wednesday as renewed concerns that artificial intelligence could disrupt traditional software services rattled investors. The IT index was down 5.8 per cent at 29,310.25 points. If losses hold, this would be its worst day since February 4.
China May wholesale inflation hits near 4-year high on Iran war, AI costs; CPI misses
China's wholesale prices rose at the fastest pace in nearly four years in May, driven by surging raw material costs from the Iran war and an artificial intelligence investment boom, while consumer inflation came in below estimates. The producer price index jumped 3.9% from a year ago, the highest since July 2022, topping economists' forecast of 3.8%, and outpacing 2.8% in April, according to data released by the National Bureau of Statistics on Wednesday. Wholesale prices returned to growth...
Australia joins exclusive club granting access to advanced AI
Australia gains access to powerful AI amid questions about readiness Thu 4 Jun 2026 at 4:57am In short: The Australian government and several private companies have gained access to a powerful artificial intelligence model not released publicly due to its cybersecurity risk. Anthropic has granted 150 organisations across 15 countries, including Australia, access to its Claude Mythos Preview as part of the expansion of its Project Glasswing. Independent MP Kate Chaney is calling on the...
US officials eye government stakes in AI companies, NOTUS reports
US officials eye government stakes in AI companies, NOTUS reports June 4 : Senior U.S. officials held preliminary discussions with major AI companies about the potential for the government to buy some shares in their firms, digital news outlet NOTUS reported on Thursday, citing three people familiar with the matter. While the planning is ongoing and details are in flux, discussions have centered on having the firms voluntarily cede the shares to the government, the report said.
Broadcom tumbles as revenue miss clouds AI boom bets
Broadcom tumbles as revenue miss clouds AI boom bets June 4 : Broadcom shares sank about 12 per cent in premarket trading on Thursday, a day after the company missed quarterly revenue views and disappointed investors' lofty expectations of stronger momentum from the AI boom. The chipmaker could lose more than $285 billion in market cap at the current price of $418.83, if losses hold. Broadcom vies with Nvidia, whose graphics processors remain the gold standard for AI workloads, underscoring...
US House lawmakers release draft bill to regulate AI
US House lawmakers release draft bill to regulate AI WASHINGTON, June 4 : A bipartisan pair of U.S. House lawmakers released draft legislation on Thursday that would prohibit states from passing laws “targeting artificial intelligence model development,” according to copy of the draft. The draft legislation, released by Democrat Lori Trahan of Massachusetts and Republican Jay Obernolte of California, would not bar states from regulating how AI technology is used, according to the draft. "We...
CrowdStrike drops as revenue growth fails to impress investors despite AI push
CrowdStrike drops as revenue growth fails to impress investors despite AI push June 4 : CrowdStrike shares slid 11 per cent in Thursday's premarket trading after the cybersecurity firm's annual recurring revenue (ARR) growth failed to impress investors expecting a boost from AI investments. The stock had rallied 60 per cent in May. CrowdStrike's ARR grew 22 per cent year-over-year to $4.44 billion, of which $193.8 million of net new ARR was added in the first quarter.
Australians have a lot in common with the Pope when it comes to AI
analysis What do the Pope and most Australians have in common? Neither trust AI companies Thu 4 Jun 2026 at 5:00am It's not often that the Pope, college students and Australians agree. One topic that has put these unusual bedfellows all roughly on the same page is artificial intelligence.