Origin Energy's Kraken Bet Faces AI, Market Timing Challenges
Australian Financial Review
ENRICHED
Details
- Date Published
- 12 Feb 2026
- Priority Score
- 1
- Australian
- Yes
- Created
- 12 Feb 2026, 09:15 pm
Description
Last year’s good idea can be today’s bad one – that’s life in capital markets.
Summary
The article examines Origin Energy's strategic move involving Kraken Technologies, highlighting the potential challenges in integrating AI within its operations and market timing issues associated with its valuation. The focus on AI suggests considerations around the efficiency and competitiveness in the energy sector, but does not deeply delve into potential catastrophic risks. While it presents significant economic implications, discussions surrounding AI are more related to market strategy than existential safety concerns. Additionally, the context remains predominantly within Australian markets, with limited direct implications for global AI safety policy or governance.
Body
CompaniesChanticleerPrint articleFeb 12, 2026 – 4.26pmOrigin Energy boss Frank Calabria may have made one of the best venture capital bets in Australian corporate history, but it’s hard to see how it could be the right time to spin it into listed markets any time soon.If his utilities software bet Kraken Technologies was worth $US8.65 billion ($12.16 billion) in December, and we’re talking about a public markets valuation to be achieved at an initial public offering, it would be worth 20 per cent or 30 per cent less today.Loading...Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter. Email Anthony at a.macdonald@afr.comSaveLog in or Subscribe to save articleShareCopy linkCopiedEmailLinkedInTwitterFacebookCopy linkCopiedShare via...Gift this articleSubscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? LoginLicense articleFollow the topics, people and companies that matter to you.Find out moreRead MoreChanticleerSoftwareIPOOrigin EnergyAIEnergyInvestingSharesFetching latest articles