Good afternoon,

Artificial intelligence has become the new coal, according to Macquarie banker turned bitcoin miner Dan Roberts.

The commoditisation of AI that China sparked with its ultra low-cost model DeepSeek is triggering a similar phenomenon to the one that ushered in the industrial revolution 200 years ago, Mr Roberts said.

Sydney start-up Harrison.ai has completed one of the year’s biggest capital raisings as it seeks to take on the world with its technology that can help dramatically increase cancer survival rates and slash waiting times in hospital emergency departments.

Centuria and ResetData will launch the nation’s first sovereign AI factory in Melbourne later this year, leveraging Nvidia chips to provide AI capabilities at a fraction of the cost of other players in the market.

Let me know what you think — lynchj@theaustralian.com.au