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    Today

    Canva recruit from big tech ahead of IPO, but five execs have left

    Five senior Canva executives with years of experience at technology giants including Meta, Adobe and Google have departed over the past 18 months.

    • Nick Bonyhady
    The Fold6 is compatible with the S-Pen, it just doesn’t have a place to store it.

    Hold off buying Samsung’s new folding phone for a few days

    Just as Samsung irons out the last of the problems in its flagship Galaxy Z Fold6, Google looks set to announce an AI phone that just might be worth waiting for.

    • John Davidson

    This Month

    Sundar Pichai, the chief executive of Alphabet – Google’s parent company –  was among tech bosses to testify.

    Google is a monopolist, but the egg can’t be unscrambled

    The company paid tens of billions of dollars to become the world’s dominant search engine. Even Microsoft couldn’t compete.

    • Nick Bonyhady
    xx

    ASX swings; Rinehart’s Olympic cruise; Wall Street got off lightly

    Read everything that’s happened in the news so far today.

    Google

    Google loses landmark antitrust case over search deals

    The US court’s decision is a significant victory for the Department of Justice in its litigation over the power of big tech.

    • Leah Nylen
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    Why this earnings season is the end of an era for Apple

    The AI era is upon Apple, and all of its tech peers, and the stories it tells its investors and customers about its products are about to change forever.

    • John Davidson
    AI hype is mounting with some real-world problems.

    AI hype just collided with recession fears

    Investors were already worried about how artificial intelligence investment will turn into profits. That’s being compounded by fears of a broader economic slowdown.

    • James Thomson

    July

    Australia needs a large language model that reflects Australian values if we want to retain our economic and cultural sovereignty.

    Why Australia needs its own AI large language model

    If we are to retain our economic and cultural sovereignty, Australia needs to develop AI that reflects Australian values.

    • Anton van den Hengel
    Financial Services Minister Stephen Jones has committed to make bank, telcos and online operators liable for scam losses.

    Advertisers to be verified under new online scams code

    The digital industry has established a new online scam code, after delays establishing a mandatory government backed code.

    • Tom Burton
    OpenAI has unveiled a prototype of SearchGPT, a new web search chatbot that will rival Google.

    Look out Google, here comes SearchGPT

    OpenAI has unveiled a prototype of SearchGPT, a new web search chatbot that could rival Google, and change how people navigate the online world.

    • Gerrit De Vynck
    Global markets have hit a speed bump as concerns about AI build.

    Markets are being shaken by big tech and Trump. It could get ugly

    For two years, FOMO has built around artificial intelligence, the promise of a soft landing and belief in rate cuts. All of a sudden, different fears are driving stocks.  

    • James Thomson
    Tesla and Alphabet’s earnings weren’t enough to sustain the rally in big tech.

    Tech tumbles as investors flee year-long rally

    Tesla led a heavy sell-off in the US tech giants overnight, dragging the S&P 500 to its worst day since 2022.

    • Joshua Peach
    Alphabet CEO Sundar Pichai has a big AI story to tell, but the proof of his claims is still in the future.

    Investors aren’t buying Google’s AI future – yet

    The search giant’s parent, Alphabet, produced solid earnings, but shareholders are tiring of claims about future magic without answers to important questions.

    • Paul Smith
    The first time GraphCast was used in real life at the ECMWF, was to predict the movements of Hurricane Lee to the east of the United States in September last year.

    Inside Google’s plans to revolutionise the weather forecast

    Traditional methods have involved “physical models” run on supercomputers. GraphCast can be run on a laptop, and come up with a forecast in minutes.

    • Lauren Shirreff
    Google planned to make Wiz a key part of its fight against Microsoft and Amazon Web Services.

    Google’s biggest acquisition falls over as $35b offer rejected

    Cybersecurity firm Wiz has turned down a mammoth takeover bid from Google’s parent company, Alphabet, sticking with an IPO plan.

    • Lynn Doan and Julia Love
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    Google inks renewed media bargaining code deals – with a catch

    Google has been quietly renewing deals worth tens of millions of dollars with Australian publishers but has added a clause allowing it to cancel them after each year.

    • Sam Buckingham-Jones
    The Nasdaq closed lower on Friday, but investors are anticipating key earnings figures from the Magnificent Seven over the next fortnight.

    ASX to fall as investors await magnificent seven earnings

    Futures indicate the local index is set to drop 0.8 per cent or by 67 points to 7876 at the start of trade, dragged lower by a fall on Wall Street.

    • Joanne Tran
    Nvidia CEO Jensen Huang. Tech companies are racing to get access to the company’s GPUs.

    Struggling bitcoin miners seek deals with AI companies

    They now hope to benefit from a surge in demand for powerful but scarce chips which are used in both crypto mining and AI processing.

    • Nikou Asgari and Tim Bradshaw
    caption

    How Thiel and Silicon Valley funded J.D. Vance’s sudden rise

    Donald Trump’s VP pick was a venture capitalist bankrolled in business and politics by billionaire investors. His ties to PayPal’s co-founder go way back.

    • Tabby Kinder, George Hammond and Alex Rogers
    Wing ground operations manager Semira Ragan and Australia operations manager Dave Ojiako-Pettit loading a drone with a parcel in Melbourne.

    Drone food delivery set to land in Melbourne’s east

    Lightweight, styrofoam drones will soon be flying over the city, delivering meals and packages to homes in Melbourne’s sprawling outer-eastern suburbs.

    • Tom Rabe