AI

A third law firm is investigating a potential class action against AI infrastructure company NextDC after it revealed delays in grid supply to its M3 data centre in Melbourne and slashed $140 million from its forecast earnings.

A parliamentary committee has recommend the NSW government require that data centres run entirely on renewable energy which they supply and that development applications be assessed according to their cumulative impact.

AI infrastructure company NextDC now faces three class action investigations after it revealed delays in grid supply to its M3 data centre in Melbourne and slashed $140 million from its forecast earnings.

Goodman Group and NYSE-listed Digital Realty Trust have made a play for a 9.9 per cent shareholding in rival NextDC in an aftermarket “share raid”, as the AI data centre operator faces class action probes into a $140 million revenue downgrade.

The Australian Competition and Consumer Commission is being urged to investigate content scraping terms proposed by Meta, after the UK competition regulator said it would look into whether the Facebook owner has abused its market dominance.

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.