Elon Musk says Tesla and SpaceX are exploring a possible merger, with special committees at both companies examining the idea. Musk said he is not involved in the talks because of potential conflicts of interest. He added that any deal would need approval from at least 50 per cent of Tesla shareholders. SpaceX posted net income of $US4.4 billion last quarter, compared with a loss of around $US1 billion a year earlier, driven by its Starlink satellite internet service and AI data centres. Revenue rose to $US14.58 billion, above analysts' forecasts.
Firmus Technologies says one of its three planned AI data centres in Tasmania's north is not yet funded. The company abandoned its plan to list on the Australian stock exchange earlier this month but is continuing with its Tasmanian projects. Firmus general energy manager Paul Grzinic told a parliamentary committee that the Launceston and Wesley Vale stage one sites are fully funded. He said the other sites still need development approval, which he described as a key step towards securing funding.
Australian AI data centres are drawing large volumes of drinking water, and Sydney Water warns they could claim a substantial share of the city's supply by 2035. Operators here are not required to disclose their water use or recycle it. Cooling systems can release chemicals such as PFAS and heavy metals that standard treatment cannot remove. Sydney Water's business development head said no utility has spare capacity of that scale. Researchers also warn that AI hardware could create a major electronic waste problem, much of it containing lead, mercury and cadmium, and no disposal plan yet exists.
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Sarah Webber, a sustainability and information technology academic at the University of Melbourne, appeared on Green Left Radio on October 9. She discussed claims the Victorian Labor government has made to back the expansion of hyperscale AI data centres across Victoria. Webber's segment aimed to examine and question those messages. The source material also includes an appeal for donations and subscriptions to Green Left.
Firmus Technologies pulled its planned $44B float from the ASX after potential investors questioned the valuation of a company with $50m in revenue. In Lane Cove, Sydney, residents stopped a $1.2B AI data centre from being built near their homes, and owner Goodman Group withdrew from the project. Commentary argues the facilities could consume large amounts of water and power, and that the cost is largely borne by households. It also says Australian law has no clear liability framework for harm caused by AI systems, and that regulation has lagged behind the rapid approval of data centres.
Sue Bolton joined Green Left Radio on October 2 to discuss the coming Victorian elections. She covered the threat posed by One Nation and the impact of campaigns against new AI data centres. The discussion also addressed workers' rights and living standards. Green Left is funded by contributions from readers and supporters, and the outlet is asking for donations and supporter subscriptions.
Firmus Technologies, a developer of artificial intelligence data centres, has withdrawn its planned A$7 billion listing on the Australian Securities Exchange. The company had claimed a value of almost A$44 billion, but many institutional investors declined to buy shares at A$11 each after reviewing a draft prospectus. Only two of its data centres are operating, with the rest still being planned or built. Commentators have raised questions about whether investor demand was misrepresented, and have called on the Australian Securities and Investments Commission to examine the matter.
AI data centre company Firmus has withdrawn its application to list on the ASX, scrapping one of Australia's biggest planned share market floats. The company cited recent market volatility and said the offer would not properly reflect its long-term growth prospects. It will now seek private market funding while considering other options. Investors reportedly pulled back over the high sale price of $11 a share and concerns about an AI bubble. UniSuper's chief investment officer said the company has a compelling story but not a compelling valuation, while Morningstar raised concerns about its heavy debt.
