Why Are US AI Labs Moving To Japan? | DCNA

You won't start in Australia with, I guess, what some could call bad news, but I think makes us look pretty good based on our predictions last week.

Yeah, well, to be clear, they were primarily your prediction.

I was being much more diplomatic.

But yes, firms have pulled out of their IPO, at least for the moment anyway, so... of different people across various media channels dancing on their graves but i don't think it's the last we'll see of hermes playing stretch

yeah i i don't take this as a i saw some headlines obviously people love a good sensation these days talking about the death of ai in australia and this that and the other i mean it seems journalists can't make up their mind whether they were a lab an operator or a neocloud they seem to be whichever they need to be for the for the article Ultimately, it seemed like the valuation just escalated to a point where it was no longer feasible.

They were looking at a similar dollar amount to Corweave, and they're obviously an earlier stage business.

So as you say, probably not the last we'll see of them, and certainly not the last we'll see of this sector and the sector in Australia.

There's another Australian company in the headlines this week, which again, a lot of the news articles were very quick to tie to the firm's story, but I think this is probably more reflective of some of the debt market situation because AirTrunk have pushed back their IPO for their REIT that they were looking to.

This was their stabilized assets.

Yeah, somewhat related, I suppose, but I think this is more case of the macro environment not being at its best right now for what would be a significant re-listing here so yeah looks like they've pushed it back into 2027 so I don't think it's it's gone I just think it's it's been It was bound by a couple of quarters, it sounds like.