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Red Tape Is Killing Australia’s AI Dream, Says Iren Co-founder

The Australian

ENRICHED

Description

One of the brothers behind bitcoin miner turned neocloud firm Iren has slammed Australia’s investment environment, warning the nation risks missing the AI boom.

Summary

The article captures internal industry pressure regarding Australian AI policy, where a prominent neocloud infrastructure founder argues that excessive regulation and poor investment environments hinder local AI scaling. While focusing primarily on economic competitiveness, the debate highlights the tension between accelerating domestic frontier AI capabilities and implementing safety governance. The piece underscores the risk of Australia losing oversight and influence over global AI safety standards if it fails to maintain a competitive domestic industry.

Body

Red tape is killing Australia’s AI dream, says Iren co-founderOne of the brothers behind bitcoin miner turned neocloud firm Iren has slammed Australia’s investment environment, warning the nation risks missing the AI boom. All your news for a great price Unlock this story and more with your subscription Digital Access What’s included Unlimited access on app & web A digital version of Today’s Paper Daily puzzles & Mind Games Complimentary access to The Wall Street Journal Subscriber-exclusive newsletters & early access to tomorrow’s front pages Pay As You Go No lock-in contract $4 for 4 weeksThen $44 charged every 4 weeks.* *Read the fine print The Australian Digital subscription costs $4 charged for a duration of 4 weeks, after which it automatically renews to $44 charged every 4 weeks. Renewals occur unless cancelled as per full Terms and Conditions. Each payment, once made, is non-refundable, subject to law. Not in conjunction with any other offer. New customers only. Prices after any early discounted periods may be varied as per full Terms and Conditions. See www.theaustralian.com.au/subscriptionterms for full details. 12 Month Plan Lock in & save $7 a week for the first 12 months($364 min. cost) charged as $28 every 4 weeks. Then $28 charged every 4 weeks.* *Read the fine print The Australian Digital 12 Month Plan costs $364 (min. cost) for the first 12 months, charged as $28 every 4 weeks. This automatically renews after the first 12 months to be charged as $28 (min. cost) every 4 weeks unless cancelled as per full Terms and Conditions. No cancellations during the first 12 months. Each payment, once made, is non-refundable, subject to law.  Not in conjunction with any other offer. Prices after the first 12 months may be varied as per full Terms and Conditions. Seewww.theaustralian.com.au/subscriptionterms for full details. Benefits of Full Digital Access Unlimited access Expert news and commentary, accessible anytime on web & app. Today’s paper Swipe through the digital newspaper, liftouts, and archive. Newsletters Be in the know with subscriber-exclusive news emails. The Wall Street Journal Enjoy complimentary access to The Wall Street Journal. Mind Games Play daily crosswords, sudoku and more with Mind Games. Unlimited access Expert news and commentary, accessible anytime on web & app. Today’s paper Swipe through the digital newspaper, liftouts, and archive. Newsletters Be in the know with subscriber-exclusive news emails. The Wall Street Journal Enjoy complimentary access to The Wall Street Journal. Mind Games Play daily crosswords, sudoku and more with Mind Games. Subscribe Other subscription options Print + Digital Subscriptions Corporate Subscriptions One bundle. Three trusted sources. Subscribe today to access quality journalism in one powerful digital bundle View offers View offers The voices you trust to tell the stories that matter Meet some of the fearless, curious, world-class journalists of The Australian. They cut through spin, verify facts and tell the full story from many viewpoints – bringing clarity when it counts and insight you can rely on, every day. Vesna Poljak Business Editor Vesna Poljak has over two decades of experience in Australian business journalism, specializing in the investment industry, hedge funds and accounting. She has covered financial services, transport and infrastructure, magazine writing, commentary, podcasts, and events. Hedley Thomas National Chief Correspondent Hedley Thomas, an award-winning investigative journalist, focuses on legal issues, corruption, and politics. He's won eight Walkleys and is famed for his true crime podcasts "The Teacher’s Pet" and "Bronwyn". Claire Harvey Editorial Director Claire Harvey is Editorial Director of The Australian and hosts the daily news podcast The Front. She has been a foreign correspondent, deputy editor, columnist and reporter for over 30 years. Claire is a leading innovator in digital storytelling. Caroline Overington Literary Editor Caroline Overington, a celebrated Australian writer and journalist, is a two-time Walkley winner. She's authored 16 books, hosted true crime documentaries, and topped Audible charts with her thrillers. As literary editor for The Weekend Australian Review, she now champions fellow writers. Simon Benson Political Editor Simon Benson, an award-winning journalist, has been The Australian's Political Editor and National Affairs Editor. He was also the Daily Telegraph’s NSW political editor and led the NSW Press Gallery. Your Selection: $0 Your Selection – Change selection Today’s Total $0 Read the fine print Terms and Conditions Sorry, we are unable to process your request at this time. Please try again later.