AI has been blamed for more than 1,000 job cuts in Australia in the past few months. AI has been blamed for more than 1,000 job cuts in Australia in the past few months. Will AI take Australian jobs, or is it just an excuse for corporate restructure? More than 1,000 local tech jobs have recently been cut, with companies citing AI productivity gains. But that's not the full story, experts say T eresa Lim has one of the most recognisable voices in Australia.

The maker of Ozempic and Wegovy is suing a rival firm for selling what it says are unsafe, knock-off versions of its weight-loss drugs in the US. Danish company Novo Nordisk asked US courts on Monday to ban Hims & Hers' range of weight-loss pills and injections, which it says are not approved by US authorities and infringe on its patent. The legal drama began on Friday after Hims & Hers launched a new weight-loss pill, leading to an initial threat from Novo Nordisk. Over the weekend, Hims & Hers said it would stop selling the pill. On Monday, its share price slumped as it called Novo Nordisk's decision to press ahead with the lawsuit a blatant attack.

UK share values'most stretched' since 2008, Bank warns The Bank of England has warned of a sharp correction in the value of major tech companies with growing fears of an artificial intelligence (AI) bubble. It said share prices in the UK are close to the most stretched they have been since the 2008 global financial crisis, while equity valuations in the US are reminiscent of those before the dotcom bubble burst. The central bank's financial stability report warned valuations are particularly stretched for companies focused on AI. It said the growth of the sector in the next five years would be fuelled by trillions of dollars of debt, raising financial stability risks if the value of the companies falls. The Bank of England cited industry figures forecasting spending on AI infrastructure could top $5tn (£3.8tn).

Google's ultra-private CEO Sundar Pichai is showing me around Googleplex, its California headquarters. A walkway runs along the length of it, passing by a giant dinosaur skeleton, a beach volleyball pitch and dozens of Googlers lunching under the hazy November sun. But it's a laboratory, hidden away at the back of the campus behind some trees, that he is most excited to show me. This is where the invention that Google believes is its secret weapon is being developed. Known as a Tensor Processing Unit (or TPU), it looks like an unassuming little chip but, says Mr Pichai, it will one day power every AI query that goes through Google.

Nvidia's sophisticated chips have been an important part of the AI boom. On Wednesday it said demand for its products remains strong, especially from big tech firms including Instagram-owner Meta, and ChatGPT-maker OpenAI, as they race to build-out AI. "The AI race is now on," said Nvidia boss Jensen Huang in a call with analysts following the report's release, saying spending from four big tech firms had doubled to 600bn per year. "Over time, you would think that artificial intelligence would... accelerate GDP growth," Huang said. "Our contribution to that is a large part of the AI infrastructure." Colleen McHugh, chief investment officer at investment firm Wealthify, told the BBC's Today programme Nvidia was "at the heart of this AI boom".

Apple has been under pressure this year. It's playing catch-up to its fellow tech giants on artificial intelligence, it's seen its stock fall by double digits since the year began, it closed a store in China for the first time ever this week, and looming US tariffs on Beijing threaten its supply chain. On Thursday, the company released its third-quarter earnings of the fiscal year as investors scrutinize how the iPhone maker might turn things around. Despite the gloomy outlook, the company is still worth more than 3tn, and it beat Wall Street's expectations for profit and revenue this quarter. Apple reported a massive 10% year-over-year increase in revenue to 94.04bn, and 1.57 per share in earnings.

Globally renowned brands would not, ordinarily, want to be associated with Germany's far-right opposition. But Tesla, one of the world's biggest corporate names, does not have a conventional chief executive. After Elon Musk backed Alternative für Deutschland (AfD) – calling the party Germany's "only hope" – voters are considering an alternative to Tesla. Data released on Thursday showed that registrations of the company's electric cars in Germany fell 76% to 1,429 last month. Overall, electric vehicle registrations rose by 31%.

Last week, we looked back at how 2024 made Elon Musk the world's most powerful man. Today, we're looking at a few other important themes that will influence the online and offline worlds in 2025. Google: Ruled an illegal monopoly in August, Google could be broken up. The results are anybody's guess, but what seemed impossible for a company worth 2.5tn is at play. The US has asked the judge in the case for a wholesale breakup of the giant, which would force it to divest Chrome, the world's most popular browser and one of Google's core businesses.

Microsoft outperformed analyst predictions in its latest quarterly earnings report, revealing on Tuesday that its revenue was up 15% year-over-year. But growth of the company's closely watched Azure cloud computing services failed to meet expectations and shares in Microsoft fell as much as 7% in after-hours trading. The company was expected to report steady growth in its fourth quarter earnings report, mostly on the back of its cloud services. Revenue from those services grew 29%, lower than the 30% to 31% that analysts predicted, resulting in a sell-off that exacerbates big tech's recent market woes. In Microsoft's earnings report, Satya Nadella, the CEO, sought to bolster confidence in the company's performance. "Our strong performance this fiscal year speaks both to our innovation and to the trust customers continue to place in Microsoft," said Nadella in the earnings statement.

When Jensen Huang spoke at the Nvidia annual general meeting last week, he made no mention of a share price slide. The US chipmaker, buoyed up by its key role in the artificial intelligence boom, had briefly become the world's most valuable company on 18 June but the crown slipped quickly. Nvidia shed about 550bn ( 434bn) from the 3.4tn ( 2.68tn) peak market value it had reached that week, as tech investors, combining profit-taking with doubts about the sustainability of its rocketing growth, applied the brakes. Huang, however, spoke like the CEO of a business that took 30 days this year to go from a valuation of 2tn to 3tn – and sees 4tn coming into view. He described a forthcoming group of powerful new chips, called Blackwell, as potentially "the most successful product in our history" and perhaps in the entire history of the computer.