☕️Deepfake Im(AI)ges

Good morning.

Sydney-based generative AI firm, Leonardo Ai, has vowed to strengthen efforts to tackle deepfake p*rn being created on its platform, following reports that users were able to circumvent restrictions on creating nonconsensual s*xual content.

The startup is by no means alone in its battle against the NSFW content, with Microsoft’s AI tool ‘Designer’ embroiled in users’ creation of explicit and “alarming” imagery of Taylor Swift earlier this year. Like Leonardo Ai, Andreessen Horowitz-backed Civitai is another platform which uses Stability.AI’s open-source AI model and has also faced problems of the same nature.

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Market movers

Shares in Ansell surged over 7.5% during trading yesterday to close at $25.43, on the back of announcing the successful completion of a $400 million placement to partially fund the acquisition of Kimberley-Clark's PPE business. The personal protective equipment (PPE) manufacturer announced the US$640 million ($974 million) deal on Monday, which was funded through the now completed fully underwritten institutional placement, and US$377 million of committed new debt.

The quick sync

• Jim Chalmers will bring startup exits into focus when he delivers Labor’s merger rules overhaul this morning, as he pushes for the sector to compete with big businesses rather than being bought out by them. (Capital Brief)

• Dubber has fired its CEO and managing director, Steve McGovern, alleging that he was likely involved in the unauthorised use of $26.6m in missing company funds. (Capital Brief)

• Ola becomes the second ridesharing operator to leave Australian shores, just months after Russian competitor inDrive quietly exited. (The Australian)

• Global X launches GXAI, the first pure play AI ETF in Australia. (Capital Brief)

• Copper is trading at a near 15-month high, climbing over 15% in the past two months after mine disruptions threatened refined-copper production at Chinese smelters. (AFR)

M&A

• Telix Pharmaceuticals finalises acquisition of IsoTherapeutics Group for $12.5m. (Capital Brief)

• Greystar, Morrison & Co, and Mapletree are among potential buyers eyeing at least $1b worth of assets from Campus Living Villages. (The Australian)

• Advent's Robert Radcliffe-Smith and Rob Hooke have enlisted RBC Capital Markets to conduct a strategic assessment at Compass Education. (AFR)

• Ord Minnett dismisses Madison Dearborn Partners' proposed acquisition of APM at $1.40 per share. (The Australian)

• Mercury Capital is actively pursuing deals, having reportedly finalised two acquisitions this month. (AFR)

• Forage is set to be acquired by US education company EAB. (Startup Daily)

• Volpara Health Technologies is poised to be acquired by Lunit. (AFR)

• ACCC is investigating Experian's planned acquisition of illion. (AFR)

• Bank of Queensland is weighing selling the business it acquired from Investec nearly ten years ago. (The Australian)

• Genesis Capital's Chris Yoo and Michael Caristo are seeking debt financing for their $279m bid to take Pacific Smiles Group private. (AFR)

• Pengana Capital Group has acquired Washington H. Soul Pattinson's stake in their private credit joint venture, Pengana Credit. (Capital Brief)

• Marsh is rumoured to be considering acquiring PSC Insurance Group. (The Australian)

Capital Markets

• Anteris Technologies had broker Evolution Capital preparing fund managers for capital raising earlier this week. (AFR)

• Guzman y Gomez has wrapped up its yearly liquidity round, securing $134.5m from both existing and new investors pending shareholder approval. (Capital Brief)

VC

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People moves

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