AI

AI data centre operator NextDC is the target of a second investigation by a class action law firm after its $140 million revenue revision late last month.

ASIC is looking into lead managers behind AI data centre company Firmus’ failed public float, with a key issue whether they had a reasonable basis for assertions about investor demand.

UNSW Sydney academics have proposed a new framework under which AI companies would be required to disclose the sources used to train their models, compensate creators and remove unauthorised AI-generated content.

NextDC is facing a class action investigation following last Wednesday's $140 million revenue forecast downgrade that sent the AI data centre operator's share price plummeting.

Greens leader and senator David Shoebridge has criticised the "unholy mess" of different courts and tribunals' adopting different rules around generative AI use.

Data centre platform AirTrunk has secured a $4.25 billion loan to develop its Western Sydney campus, with Mallesons and Gilbert + Tobin advising on the deal.

In one of the first major suits by an artist's estate against an AI company, the owners of Elvis Presley's catalogue have slapped Anthropic with a copyright suit in the US, alleging the company used 274 of his songs to train its Claude AI model.

Data centre operator NextDC is facing a class action investigation over last Wednesday's profit forecast downgrade on the back of Jemena Electricity's suspension of works at M3 Melbourne.

The CEO of Maurice Blackburn has warned that unless law firms make their legal services more affordable, litigants using AI chatbots could disrupt the profession.

Law firms are moving away from time-based billing to other pricing models with the advent of generative AI, according to an expert, and the shift could help junior lawyers retain critical skills.