Crypto billionaire invests millions to build Australia's ChatGPT
Ed Craven has made his fortune, estimated by the Financial Review Rich List at $4.8 billion, through the controversial gambling platform that uses cryptocurrencies for payment and is illegal for Australian punters.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Man of Many
5 hours ago
- Man of Many
The Inaugural Morris Single Barrel Whisky: A Historic Moment for Australian Malts
By Rob Edwards - Sponsored Published: 4 Aug 2025 Share Copy Link 0 Readtime: 4 min Every product is carefully selected by our editors and experts. If you buy from a link, we may earn a commission. Learn more. For more information on how we test products, click here. It's not unusual for makers of whisky and wine to allude to a certain level of heritage and history when it comes to the drams and drops they produce. However, few come even remotely close to the extraordinary provenance of MORRIS, which has an astounding 166 years of unmatched family craftsmanship emanating from the northeastern Victorian town of Rutherglen. In fact, it would be fair to say that every bottle MORRIS has ever produced is a small piece of Australian history. Established in 1859, MORRIS started as a vineyard producing some of Australia's finest wines before expanding its offering to include remarkably premium whiskies. Many of these have drawn much of their unique flavour from a finishing process that uses the very barrels that once held their sibling wines. In this way, producing both wines and whisky has enabled MORRIS to offer a sense of terroir that others can only dream of. Rutherglen Morris Durif Single Barrel | Image: Morris of Rutherglen Now, MORRIS is celebrating the rich legacy that has led to it becoming Australia's most-awarded wine and whisky brand via the release of its inaugural Single Barrel. The MORRIS Family Durif Single Barrel is a newly revealed Australian Single Malt Whisky – a category within which MORRIS has long been considered exceptional. This incredible new release demonstrates how MORRIS simply never stops honing the approach that has seen it become so widely renowned. At the same time, it pays tribute to Australian whisky craftsmanship and captures the structure and complexity of the Durif grape alongside the rich Rutherglen soils surrounding the distillery. Let's take a closer look at this hand-bottled marvel, limited to just 258 bottles. Rutherglen Morris Durif Single Barrel | Image: Morris of Rutherglen Rutherglen Morris Durif Single Barrel (58.5%) Sometimes, we all deserve to indulge in a touch of decadence, and we can think of no better way to do so than via the MORRIS Durif Single Barrel, a burnished gold liquid containing rich, malted layers that are sure to delight. Proceedings commence with a superb nose of malted biscuits and dark chocolate crème, followed by a palate of creamy chocolate fondant and dark cocoa. Each sip concludes decadently courtesy of a layered finish of chocolate orange, vanilla, and dried fruits. It's nothing short of a triumph worthy of MORRIS' 166-year legacy. Plus, deep and complex flavours from the iconic MORRIS Durif barrel enhance rather than overpower the spirit. This difficult-to-achieve harmony stands as a testament to both meticulous barrel preparation and exceptional craftsmanship. Rutherglen Morris Durif Single Barrel | Image: Morris of Rutherglen Where Luxury and History Meet As we've already mentioned, this extraordinary expression is hand-bottled, enveloped in premium labelling containing details about its origin, including the barrel number, bottle number, and the signature of the MORRIS Head Distiller. Further, each bottle comes packaged in a luxury gift box, making for the perfect present for someone special (or a welcome addition to your own whisky collection). Even in light of the 166 years of expertise and passion that go into every bottle produced, Australia's finest whisky and wine makers have somehow outdone themselves with this MORRIS Family Durif Single Barrel. It makes us pause and wonder about what other liquid miracles they might materialise over the coming months and years. Given the limited nature of this release, we encourage whisky collectors and enthusiasts to express their interest early – we'd hate for you to miss out. Here's to a further 166 years of tantalising drams and drops!
The Advertiser
6 hours ago
- The Advertiser
Rivers of gold pour into Kalgoorlie for mining forum
Mining has always been an industry of boom and bust. The fickle fortunes of Australia's biggest export sector were clear to see on opening day of the annual Diggers and Dealers conference on Monday. With bullion prices sitting at record highs, goldminers Evolution and Ramelius Resources could scarcely conceal their glee as they boasted to investors, analysts and rivals of the rivers of cash flowing their way. Just a few years ago, Ramelius was targeting an ore grade of two grams per tonne and making good money, chief executive Mark Zeptner said. Today, following its merger with Simon Lawson-founded Spartan Resources, it's hitting an average grade of three grams of gold per tonne of ore mined. "So it's fair to say at a three gram per tonne head grade and the current gold price, we are killing it," Mr Zeptner said, grinning. After "sparring" with Mr Lawson in the past year or so, the pair find themselves at the helm of one of the ASX's largest goldminers following a $2.5 billion merger. Mr Zeptner said he would handle the "boring" financial operations of the new joint entity - "that is if you find ridiculous cash flows boring" - while Mr Lawson, who has stayed on as deputy chairman, said he was content to focus on exploration. "Mark and I, after stopping sparring, agreed that it would be a great combination to bring that skill set together, that operational excellence and that exploration upside … hopefully, that sizzle," he said. Mr Lawson is a rockstar in the WA Goldfields town of Kalgoorlie, which is hosting the mining forum for a 34th time. The price of gold has almost doubled in less than three years to nearly $5200 an ounce, flooding the coffers of miners. Following the Ramelius-Spartan tie-up and Northern Star's $5 billion takeover of De Grey Mining, there is still plenty of M&A appetite in the sector. Miners attending the forum are sitting on astronomical cash and bullion reserves, with five companies - Northern Star, Ramelius, Evolution, Vault and Regis - on more than $500 million each, according to gold mining consultants Surbiton Associates. "Perhaps they could be used for further acquisitions, although prices now paid to obtain such new assets are very high," director Sandra Close said. "The concern is that the larger the cash reserves become, the more the company may become a tempting takeover target." But things were less rosy for uranium miners Paladin and Boss Energy. The short seller targets were the first miners to present on Monday and had a tough story to sell. Falling uranium prices have smashed share valuations, while Paladin and Boss have suffered output downgrades at their Langer Heinrich and Honeymoon mines, respectively. Additionally, hopes for an Australian nuclear power industry to boost demand for the radioactive ore were dashed when the Peter Dutton-led coalition, which championed the policy, was trounced at the May election. But governments globally were looking increasingly favourably at uranium to power their energy needs; a promising prospect for the industry, outgoing Boss Energy chief executive Duncan Craib said. "Australia has a once-in-a-generation opportunity to contribute in achieving net zero and capitalise on the inevitable surge of global uranium demand that will accompany it," he said. Despite his bullish comments, Mr Craib shied away from the media pack, avoiding the customary question-and-answer with journalists following his presentation. There was plenty of support for nuclear energy in the event's curtain-raiser, a panel discussion between Canadian nuclear advocate Chris Keefer, Centre for Independent Studies energy expert Aidan Morrison and the right-wing think tank's executive director Tom Switzer. Australia's best shot at reducing carbon emissions in electricity generation remained nuclear power, but even then it would not be possible to achieve net zero by 2050, Mr Morrison said. Mining has always been an industry of boom and bust. The fickle fortunes of Australia's biggest export sector were clear to see on opening day of the annual Diggers and Dealers conference on Monday. With bullion prices sitting at record highs, goldminers Evolution and Ramelius Resources could scarcely conceal their glee as they boasted to investors, analysts and rivals of the rivers of cash flowing their way. Just a few years ago, Ramelius was targeting an ore grade of two grams per tonne and making good money, chief executive Mark Zeptner said. Today, following its merger with Simon Lawson-founded Spartan Resources, it's hitting an average grade of three grams of gold per tonne of ore mined. "So it's fair to say at a three gram per tonne head grade and the current gold price, we are killing it," Mr Zeptner said, grinning. After "sparring" with Mr Lawson in the past year or so, the pair find themselves at the helm of one of the ASX's largest goldminers following a $2.5 billion merger. Mr Zeptner said he would handle the "boring" financial operations of the new joint entity - "that is if you find ridiculous cash flows boring" - while Mr Lawson, who has stayed on as deputy chairman, said he was content to focus on exploration. "Mark and I, after stopping sparring, agreed that it would be a great combination to bring that skill set together, that operational excellence and that exploration upside … hopefully, that sizzle," he said. Mr Lawson is a rockstar in the WA Goldfields town of Kalgoorlie, which is hosting the mining forum for a 34th time. The price of gold has almost doubled in less than three years to nearly $5200 an ounce, flooding the coffers of miners. Following the Ramelius-Spartan tie-up and Northern Star's $5 billion takeover of De Grey Mining, there is still plenty of M&A appetite in the sector. Miners attending the forum are sitting on astronomical cash and bullion reserves, with five companies - Northern Star, Ramelius, Evolution, Vault and Regis - on more than $500 million each, according to gold mining consultants Surbiton Associates. "Perhaps they could be used for further acquisitions, although prices now paid to obtain such new assets are very high," director Sandra Close said. "The concern is that the larger the cash reserves become, the more the company may become a tempting takeover target." But things were less rosy for uranium miners Paladin and Boss Energy. The short seller targets were the first miners to present on Monday and had a tough story to sell. Falling uranium prices have smashed share valuations, while Paladin and Boss have suffered output downgrades at their Langer Heinrich and Honeymoon mines, respectively. Additionally, hopes for an Australian nuclear power industry to boost demand for the radioactive ore were dashed when the Peter Dutton-led coalition, which championed the policy, was trounced at the May election. But governments globally were looking increasingly favourably at uranium to power their energy needs; a promising prospect for the industry, outgoing Boss Energy chief executive Duncan Craib said. "Australia has a once-in-a-generation opportunity to contribute in achieving net zero and capitalise on the inevitable surge of global uranium demand that will accompany it," he said. Despite his bullish comments, Mr Craib shied away from the media pack, avoiding the customary question-and-answer with journalists following his presentation. There was plenty of support for nuclear energy in the event's curtain-raiser, a panel discussion between Canadian nuclear advocate Chris Keefer, Centre for Independent Studies energy expert Aidan Morrison and the right-wing think tank's executive director Tom Switzer. Australia's best shot at reducing carbon emissions in electricity generation remained nuclear power, but even then it would not be possible to achieve net zero by 2050, Mr Morrison said. Mining has always been an industry of boom and bust. The fickle fortunes of Australia's biggest export sector were clear to see on opening day of the annual Diggers and Dealers conference on Monday. With bullion prices sitting at record highs, goldminers Evolution and Ramelius Resources could scarcely conceal their glee as they boasted to investors, analysts and rivals of the rivers of cash flowing their way. Just a few years ago, Ramelius was targeting an ore grade of two grams per tonne and making good money, chief executive Mark Zeptner said. Today, following its merger with Simon Lawson-founded Spartan Resources, it's hitting an average grade of three grams of gold per tonne of ore mined. "So it's fair to say at a three gram per tonne head grade and the current gold price, we are killing it," Mr Zeptner said, grinning. After "sparring" with Mr Lawson in the past year or so, the pair find themselves at the helm of one of the ASX's largest goldminers following a $2.5 billion merger. Mr Zeptner said he would handle the "boring" financial operations of the new joint entity - "that is if you find ridiculous cash flows boring" - while Mr Lawson, who has stayed on as deputy chairman, said he was content to focus on exploration. "Mark and I, after stopping sparring, agreed that it would be a great combination to bring that skill set together, that operational excellence and that exploration upside … hopefully, that sizzle," he said. Mr Lawson is a rockstar in the WA Goldfields town of Kalgoorlie, which is hosting the mining forum for a 34th time. The price of gold has almost doubled in less than three years to nearly $5200 an ounce, flooding the coffers of miners. Following the Ramelius-Spartan tie-up and Northern Star's $5 billion takeover of De Grey Mining, there is still plenty of M&A appetite in the sector. Miners attending the forum are sitting on astronomical cash and bullion reserves, with five companies - Northern Star, Ramelius, Evolution, Vault and Regis - on more than $500 million each, according to gold mining consultants Surbiton Associates. "Perhaps they could be used for further acquisitions, although prices now paid to obtain such new assets are very high," director Sandra Close said. "The concern is that the larger the cash reserves become, the more the company may become a tempting takeover target." But things were less rosy for uranium miners Paladin and Boss Energy. The short seller targets were the first miners to present on Monday and had a tough story to sell. Falling uranium prices have smashed share valuations, while Paladin and Boss have suffered output downgrades at their Langer Heinrich and Honeymoon mines, respectively. Additionally, hopes for an Australian nuclear power industry to boost demand for the radioactive ore were dashed when the Peter Dutton-led coalition, which championed the policy, was trounced at the May election. But governments globally were looking increasingly favourably at uranium to power their energy needs; a promising prospect for the industry, outgoing Boss Energy chief executive Duncan Craib said. "Australia has a once-in-a-generation opportunity to contribute in achieving net zero and capitalise on the inevitable surge of global uranium demand that will accompany it," he said. Despite his bullish comments, Mr Craib shied away from the media pack, avoiding the customary question-and-answer with journalists following his presentation. There was plenty of support for nuclear energy in the event's curtain-raiser, a panel discussion between Canadian nuclear advocate Chris Keefer, Centre for Independent Studies energy expert Aidan Morrison and the right-wing think tank's executive director Tom Switzer. Australia's best shot at reducing carbon emissions in electricity generation remained nuclear power, but even then it would not be possible to achieve net zero by 2050, Mr Morrison said. Mining has always been an industry of boom and bust. The fickle fortunes of Australia's biggest export sector were clear to see on opening day of the annual Diggers and Dealers conference on Monday. With bullion prices sitting at record highs, goldminers Evolution and Ramelius Resources could scarcely conceal their glee as they boasted to investors, analysts and rivals of the rivers of cash flowing their way. Just a few years ago, Ramelius was targeting an ore grade of two grams per tonne and making good money, chief executive Mark Zeptner said. Today, following its merger with Simon Lawson-founded Spartan Resources, it's hitting an average grade of three grams of gold per tonne of ore mined. "So it's fair to say at a three gram per tonne head grade and the current gold price, we are killing it," Mr Zeptner said, grinning. After "sparring" with Mr Lawson in the past year or so, the pair find themselves at the helm of one of the ASX's largest goldminers following a $2.5 billion merger. Mr Zeptner said he would handle the "boring" financial operations of the new joint entity - "that is if you find ridiculous cash flows boring" - while Mr Lawson, who has stayed on as deputy chairman, said he was content to focus on exploration. "Mark and I, after stopping sparring, agreed that it would be a great combination to bring that skill set together, that operational excellence and that exploration upside … hopefully, that sizzle," he said. Mr Lawson is a rockstar in the WA Goldfields town of Kalgoorlie, which is hosting the mining forum for a 34th time. The price of gold has almost doubled in less than three years to nearly $5200 an ounce, flooding the coffers of miners. Following the Ramelius-Spartan tie-up and Northern Star's $5 billion takeover of De Grey Mining, there is still plenty of M&A appetite in the sector. Miners attending the forum are sitting on astronomical cash and bullion reserves, with five companies - Northern Star, Ramelius, Evolution, Vault and Regis - on more than $500 million each, according to gold mining consultants Surbiton Associates. "Perhaps they could be used for further acquisitions, although prices now paid to obtain such new assets are very high," director Sandra Close said. "The concern is that the larger the cash reserves become, the more the company may become a tempting takeover target." But things were less rosy for uranium miners Paladin and Boss Energy. The short seller targets were the first miners to present on Monday and had a tough story to sell. Falling uranium prices have smashed share valuations, while Paladin and Boss have suffered output downgrades at their Langer Heinrich and Honeymoon mines, respectively. Additionally, hopes for an Australian nuclear power industry to boost demand for the radioactive ore were dashed when the Peter Dutton-led coalition, which championed the policy, was trounced at the May election. But governments globally were looking increasingly favourably at uranium to power their energy needs; a promising prospect for the industry, outgoing Boss Energy chief executive Duncan Craib said. "Australia has a once-in-a-generation opportunity to contribute in achieving net zero and capitalise on the inevitable surge of global uranium demand that will accompany it," he said. Despite his bullish comments, Mr Craib shied away from the media pack, avoiding the customary question-and-answer with journalists following his presentation. There was plenty of support for nuclear energy in the event's curtain-raiser, a panel discussion between Canadian nuclear advocate Chris Keefer, Centre for Independent Studies energy expert Aidan Morrison and the right-wing think tank's executive director Tom Switzer. Australia's best shot at reducing carbon emissions in electricity generation remained nuclear power, but even then it would not be possible to achieve net zero by 2050, Mr Morrison said.
West Australian
8 hours ago
- West Australian
Perth tech ‘genius' Andrew Tulloch reportedly rejects billion-dollar deal from Mark Zuckerburg's Meta
A Perth tech founder and artificial intelligence 'extreme genius' has reportedly rejected a billion-dollar deal from Mark Zuckerburg's Meta. Andrew Tulloch reportedly turned down the $1.5 billion offer from Zuckerburg to buy his AI company, Thinking Machines Lab, earlier this year, according to The Wall Street Journal. Zuckerburg's offer also reportedly included 'top bonuses' and 'extraordinary stock performance'. But Meta spokesperson Andy Stone told the masthead the offer was 'inaccurate and ridiculous', and that Meta was not interested in acquiring Thinking Machines. Mr Tulloch spent about 11 years at Meta, working his way up as a distinguished engineer, before moving to its rival company, OpenAI, in 2023. The Christ Church Grammar alumni — who was the school's vice-captain in 2007 — co-founded Thinking Machines Lab with former OpenAI chief technology officer, Mira Murati, in February. The company is reportedly valued at AU$18.5 billion. 'We're building a future where everyone has access to the knowledge and tools to make AI work for their unique needs and goals,' Thinking Machines' website reads. 'We're building Thinking Machines Lab to make AI systems more widely understood, customisable and generally adaptable. 'We are scientists, engineers and builders who've created some of the most widely used AI products, including ChatGPT and open-weights models like Mistral, as well as popular open source projects like PyTorch, OpenAI Gym, Fairseq and Segment Anything.' Former Facebook executive Mike Vernal told the Journal, '(Mr Tulloch) was definitely known as an extreme genius.' Mr Tulloch graduated from the University of Sydney in 2011 with First Class Honours before studying a Masters of Mathematical Statistics, Statistics and Machine Learning at Cambridge University.
