AI IPO rush meets market jitters as Austrailans rethink where to put their savings

AI IPO rush meets market jitters as Austrailans rethink where to put their savings

The global AI investment boom is gathering pace, with OpenAI signalling its intention to eventually join rivals Anthropic and SpaceX on the US sharemarket, potentially fuelling another wave of capital raising worth hundreds of billions of dollars across the industry. SBS Finance Editor Ricardo Gonçalves speaks with Loftus Peak Chief Investment Officer Alex Pollak about what the AI listing race means for investors, while Adam Dawes from Shaw and Partners breaks down a softer day on the ASX after the long weekend. Plus, Matthew Hassan, Senior Economist at Westpac, explains why Australians are turning away from property as the wisest place for savings and what weakening consumer sentiment could mean for the economy.

Dozens dead, 12 missing after earthquake in the Philippines

At least 35 people have been killed and 12 people are missing, after an earthquake in the southern Philippines on Monday. Rescuers continue to search for survivors near the epicentre of the 7.8 magnitude quake, which triggered a one-metre tsunami.

Iran-Israel missile attacks pause - but for how long?

Iran and Israel have announced a pause in military operations against each other, following a day of missile exchanges. While both sides have agreed to halt strikes, tensions continue to build over Lebanon, where Israel says its military will continue to operate against Hezbollah.

State funeral for renowned melanoma pathologist Richard Scolyer

Prime Minister Anthony Albanese has paid tribute to world-renowned melanoma pathologist Richard Scolyer, describing him as a "truly remarkable man" and announcing a state funeral will be held. The 2024 Australian of the Year died on Sunday aged 59, three years after being diagnosed with brain cancer.

Violence in Middle East following Israeli strikes on Lebanon

The Israeli Defence Force says it has struck military targets in western and central Iran, after Iran launched a series of strikes on northern Israel. The latest exchange follows Israeli strikes in Beirut’s southern suburbs, which Lebanese health officials say killed at least two and injured at least 20.