Author: MIL-OSI Publisher

Source: LogicMonitor

Company launches the Autonomous IT Innovation Program, a new private preview designed to move enterprises beyond dashboards, alerts, and manual triage

Sydney, Australia – May 28, 2026 – LogicMonitor®, the AI-first platform for Autonomous IT, today announced a new initiative designed to make AI more central to how enterprise IT teams identify issues earlier, respond more intelligently, and reduce operational risk.

Source: GlobalData

China’s mobile services market is set for a steady but modest revenue growth through 2030, as rising mobile data service revenues offset continued decline in voice and messaging revenues, says GlobalData, a leading intelligence and productivity platform.

GlobalData’s China Mobile Communications Forecast (Q4 2025) reveals that the country’s mobile services revenue is expected to grow at a modest compounded annual growth rate (CAGR) of 1.7% from $143 billion in 2025 to $156 billion in 2030.

Sarwat Zeeshan, Telecom Analyst at GlobalData, comments: “Mobile voice service revenue will decline at a CAGR of 23% over the forecast period, due to the increasing consumer shift towards OTT/internet-based communication platforms, and the subsequent decline in mobile voice ARPU levels.

“Mobile data service revenue, on the other hand, will increase at a CAGR of 4.8% between 2025 and 2030. Rising smartphone usage, increasing consumption of mobile data services, most importantly with increasing adoption of higher ARPU-yielding premium 5G service plans will underpin this shift, reinforcing data-driven growth as the primary engine of the country’s evolving telecom landscape.

The average monthly mobile data usage is forecast to increase from 15.1GB in 2025 to 23.1GB in 2030, driven by the growing consumption of online video and social media content over high-speed mobile networks, on the back of data-centric packages offered by telcos.

5G will remain the leading mobile technology in terms of subscriptions through 2030, thanks to the ongoing 5G network modernization efforts by major MNOs, greater availability and affordability of 5G smartphones and telcos offering premium 5G plans.

The evolution and expansion of 5G networks will also help drive the adoption of M2M/IoT services in the country, as companies explore new IoT/M2M use cases enabled by 5G networks. M2M/IoT subscriptions are expected to grow at a CAGR of 7.5% over the forecast period.

Zeeshan concludes: “China Mobile led the mobile services market in China in 2025 and will retain its leadership position over the forecast period through its widespread mobile network coverage, ongoing investments in next-generation connectivity, and strong focus on 5G network modernization, increasing network capacity, and broader service offerings for consumers and enterprises.”

GlobalData’s China Mobile Communications Forecast:

GlobalData’s China Mobile Communications Forecast quantifies current and future demand and spending on mobile voice and mobile data services. The data is published quarterly.

About GlobalData

GlobalData Plc (LSE:DATA) operates an intelligence platform that empowers leaders to act decisively in a world of complexity and change. By uniting proprietary data, human expertise, and purpose-built AI into a single, connected platform, we help organizations see what is coming, move faster, and lead with confidence. Our solutions are used by over 5,000 organizations across the world’s largest industries, providing tailored intelligence that supports strategic planning, innovation, risk management, and sustainable growth.

Source: Amnesty International

Malaiyaha Tamils working on private tea estates and smallholdings in Sri Lanka are being subjected to abuses that meet many of the International Labour Organization’s (ILO) indicators of forced labour, while being denied access to the country’s strict labour protections, Amnesty International said in a new report: (ref. https://www.amnesty.org/en/documents/ASA37/1011/2026/en/ )

The research, which documents the plight of workers in Sri Lanka’s Southern Province, found that members of the marginalized Malaiyaha Tamil community suffered multiple and widespread forms of abuse including intimidation and threats, physical violence and harassment, debt bondage, restrictions on movement, and poor working and living conditions.

The report found that, in addition to its failure to address these labour abuses, the state is failing in its duty to ensure workers’ rights to social security, unionization, and access to justice. As an ILO member and party to 44 of its conventions, as well as UN human rights treaties such as the International Covenant on Economic, Social and Cultural Rights, Sri Lanka is obliged to ensure that workers are protected from discrimination and labour and human rights abuses.

“Private tea estates in Sri Lanka are systematically violating labour laws in their treatment of Malaiyaha Tamil workers with no accountability. Across the sites we visited, workers reported a consistent pattern of discrimination and abuse, including violence, debt bondage, withheld wages, and poor living and working conditions, raising serious concerns about forced labour. The persistence of these abuses despite existing legal safeguards reflects a serious failure of the state to enforce labour protections and safeguard workers’ rights,” said Smriti Singh, Amnesty International’s Regional Director for South Asia.

“Sri Lanka’s obligation to eradicate the use of forced labour is clear – both under domestic and international law including as a member of the ILO. The authorities must urgently prioritize inspecting these estates to determine the extent of labour rights abuses. This should be followed by thorough investigations, prosecutions of those responsible and meaningful remedies for workers.”

The report is based on research conducted by Amnesty International between January 2024 and January 2026. Amnesty International visited 45 estates in Galle and Matara districts in the Southern part of Sri Lanka and conducted 159 interviews with workers along with interviews of two estate managers and three supervisors. Fifteen focus group discussions were also held with 65 workers.

Longstanding concerns over forced labour and other abuses continue

Malaiyaha Tamils – descendants from workers brought to Sri Lanka from the southern part of India by British colonizers in the early 19th century to work on tea plantations – have long experienced systemic and structural racial discrimination and exclusion, which have made them vulnerable to forced labour.

To date, they are heavily dependent on their employers for their livelihoods, accommodation and welfare, which leaves them unable to challenge poor living and working conditions and labour law abuses.

On all 45 estates visited, workers said that they relied on their employer for housing and lived in fear of forced eviction.

Workers on 15 estates told Amnesty International that they had been subjected to or had witnessed verbal and/or physical abuse by estate managers for being late for work, enquiring about unpaid salary and other issues.

One worker said: “If you don’t work [and meet the targets], they tend to beat you… They’ll hit with their hands and legs, and with sticks. They’ve hit some people so badly you can’t bear to look. It’s still happening.”

The research found that estate managers often cited spurious reasons for withholding pay based often on unrealistic targets, forcing workers to rely on wage advances and loans to meet basic needs, putting them in even more debt.

Out of the 45 estates visited, 27 reportedly demanded that workers pick over 25kg of tea per day. Failure to meet these unrealistic targets would result in wages of as little as LKR 1,000 (US$3.10) per day, being docked or delayed.

One worker, Subramaniam, said: “If we do not finish the assigned work, they count three days of work as one day’s work. If we finish the work, they pay LKR 1,000 (US$3.10).”

Such tactics result in a cycle of increasing debt to estate owners that may amount to debt bondage – a form of forced labour that can result in workers being tied to employers across generations.

Workers on at least 22 estates described restrictions on their freedom of movement, including curfews and requiring approval to travel. Their living conditions also failed to meet key elements constituting the right to adequate housing, including lack of security of tenure, sufficient space and adequate sanitation.

Labour protections denied

These abuses are compounded by the fact that that the labour protections enshrined in domestic laware not being enforced by the state and cannot be accessed by Malaiyaha Tamil tea estate workers.

Employers on private estates and smallholdings exploitatively misclassify Malaiyaha Tamil workers as “casual workers”, denying them all labour-related legal entitlements and basic statutory benefits. Few receive maternity benefits, pension and sickness leave.

Malaiyaha Tamil workers face challenges to accessing justice, particularly remedies for abuses and poor working conditions. These include a language gap as state authorities that could offer protection do not typically speak Malaiyaha Tamil, discriminatory treatment by state officials, and lack access to employment documentation. Trade union representation is often entirely absent or prohibited by their employers – the estates visited during the research did not have unions operating.

The research also found significant failings in labour inspections and enforcement of employment standards at tea estates in the Matara and Galle districts.

“The exploitation of Malaiyaha Tamil workers is being enabled by entrenched discrimination, extreme marginalization, and systematic mischaracterization of their status that deprives them of the protection of the law,” said Smriti Singh.

“We urge the authorities to fully enforce the law, dismantle the barriers preventing the Malaiyaha Tamil community from accessing their rights, and strengthen labour protections and accountability across private tea estates.”

SOURCE: SS&C

WINDSOR, Conn. SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today announced that Royal London Asset Management, a leading U.K. fund management company, has extended its relationship with SS&C. SS&C Global Investor & Distribution Solutions will provide fund administration and unit registry services for its new range of Australian active funds, including:

• Royal London Global Equity Diversified Fund
• Royal London Global Equity Enhanced Fund
• Royal London Global Equity Select Fund
• Royal London Short Duration Global High Yield Bond Fund

RLAM is part of Royal London, the U.K.'s largest mutual life, pensions and investment company. SS&C services approximately £72bn in assets under management across its U.K. fund range.

Equity Trustees will serve as the Responsible Entity for RLAM's new funds, which have launched with around AUD $1 billion in AUM. The unit trusts are structured as feeder funds, providing investors with indirect exposure to RLAM's range of Dublin-domiciled Undertakings for Collective Investment in Transferable Securities (UCITS) funds.

SS&C will provide its full suite of fund administration services to the funds, including fund accounting, unit pricing, transfer agency, valuation and tax/financial reporting.

“We are thrilled to extend our partnership with SS&C to encompass our new range of Australian funds,” said Ed Venner, Chief Client Officer at Royal London Asset Management. “We've been partnering with SS&C for the last three years in the U.K. with positive results. The firm's global scale and their growing presence in the Australian market made SS&C a natural choice to service our new Australian funds. SS&C's expertise has streamlined the unit trust launch process for our team, allowing us to focus on building direct relationships with Australian investors and advisers.”

“We are pleased to further our long-term relationship with Royal London Asset Management as they continue developing their distribution model in the growing Australian market,” said Nick Wright, Global Head of SS&C Global Investor & Distribution Solutions.”SS&C has invested significant time and resources in expanding our local team and offerings to best serve fund managers in the region. We are honored RLAM has entrusted us with supporting their new range of Australian funds and look forward to continuing to work with their team.”

The announcement follows a wave of recent Australian growth for SS&C, including a number of client wins and renewals across superannuation and wealth. To support growth in the APAC business, the firm recently hired Chrys Wickremeratne to serve as Regional Head of Fund Accounting. Wickremeratne brings 25 years of experience across Australian financial services, and most recently served as Head of Fund Services for Australia and New Zealand at HSBC.

About Royal London Asset Management

Royal London Asset Management is an integral part of customer-owned mutual, Royal London, and free from short-term shareholder demands.

Managing £199 billion* on behalf of a broad range of clients, Royal London Asset Management is committed to active investment excellence and responsible investing. It works in close partnership with clients to deliver a spectrum of investment solutions to help investors navigate complex market conditions and achieve their financial goals.

*As at 31 December 2025

About SS&C Technologies

SS&C is a global provider of services and software for the financial services and healthcare industries. Founded in 1986, SS&C is headquartered in Windsor, Connecticut, and has offices around the world. More than 23,000 financial services and healthcare organizations, from the world's largest companies to small and mid-market firms, rely on SS&C for expertise, scale and technology.

Source: deVere Group

May 26 2026 – Global financial advisory giant deVere Group has entered the Canadian market after securing regulatory approval from the Financial Services Regulatory Authority of Ontario (FSRA), establishing deVere Canada in the financial district in Toronto.

The move marks deVere's first licensed operation in Canada and forms part of the group's wider international expansion strategy as demand accelerates for sophisticated, multi-jurisdiction advice among internationally mobile professionals, entrepreneurs, expatriates and globally connected families.

Based in the heart of Toronto — Canada's financial capital and one of North America's most internationally connected business centres — the new operation positions deVere at the centre of a rapidly expanding market for international wealth planning, protection and advisory services.

James Green, Regional Director, comments: “The expansion comes amid major shifts in global wealth patterns, with affluent individuals and families increasingly living, working, investing and retiring across multiple countries.

“Global wealth mobility is reaching record levels, with international migration advisers forecasting another surge in high-net-worth migration flows as they increasingly relocate assets, businesses and residency internationally.

“Traditional wealth models built around single-jurisdiction advice are increasingly struggling to serve internationally mobile clients operating financially across several countries simultaneously.”

Financial advisers are facing rising demand from individuals with international assets, overseas pensions, multinational business interests and complex tax exposure spanning jurisdictions including Canada, the US, the UK, the Middle East and Asia.

Canada itself has become an increasingly attractive destination for globally mobile professionals, entrepreneurs and international capital.  

The Greater Toronto Area alone generates approximately one-fifth of Canada's GDP and Toronto itself remains the country's dominant banking and capital markets hub, reinforcing its growing importance in international wealth management.

deVere Group currently oversees more than $14bn under advisement through its international network spanning Europe, the Middle East, Asia, Africa and the Americas.

Josh Taylor, CFO of deVere Canada, says Canada represents a strategically important market within the company's broader international growth strategy.

“Canada sits at the intersection of global capital, migration and wealth creation, making it a highly compelling long-term market for deVere.”

James Green explains the launch reflects a profound structural shift taking place across global wealth management.

“Canada continues to attract globally mobile professionals, entrepreneurs and internationally connected families, while Toronto has established itself as one of North America's most important financial centres.

“Clients increasingly hold assets, pensions, investments and financial obligations across multiple jurisdictions, creating growing complexity around taxation, retirement planning, protection and estate structuring.

“Demand for internationally coordinated financial advice is accelerating rapidly as clients seek integrated planning across borders, currencies and regulatory systems.

“Securing our Ontario licence is a major milestone because it establishes deVere in one of the world's most respected financial jurisdictions at a time when international financial planning has never been more important.”

The Toronto-based operation will initially focus on insurance and protection planning while supporting broader international wealth structuring needs for clients with global interests and international exposure.

Josh Taylor adds: “This license is the first provincial license with continued expansion planned across Canada towards the back end of 2026 and into 2027.”

Brent Weaver, Chief Commercial Officer of deVere Canada, says the Toronto launch further strengthens deVere's international advisory infrastructure.

“Toronto is a natural location for our continued international expansion and an important addition to deVere's global advisory network.”

deVere's Regional Director, James Green concludes: “Well-regulated, politically and legally stable, and internationally connected jurisdictions such as Canada are becoming increasingly attractive to globally mobile wealth amid rising geopolitical and economic uncertainty.

“The company says recruitment is already underway as deVere Canada scales operations in Ontario and expands its presence across the Canadian market.”

deVere Group is one of the world's largest independent advisors of specialist global financial solutions to international, local mass affluent, and high-net-worth clients.  It has a network of offices around the world, more than 80,000 clients, and $14bn under advisement.

Source: Commonwealth Bank of Australia (CBA)

26 May 2026 – OpenAI CEO Sam Altman says AI technology is advancing faster than we’ve been able to absorb it, making transparency, trust and agility critical to closing the gap.

Key points

• OpenAI CEO Sam Altman says AI technology has reached “a notable place”, but enterprise adoption remains “still very early”.
• Altman says leaders need to be transparent about uncertainty.
• Businesses may need to operate on a faster cycle as AI changes things faster than traditional corporate cycles.

Artificial intelligence is advancing faster than many businesses, institutions and societies can adopt it, creating a new leadership challenge: how to be transparent about what is changing while staying agile enough to respond, OpenAI CEO Sam Altman says.

Speaking with Commonwealth Bank Chief Executive Officer Matt Comyn via video link at the bank’s Accelerate AI event in Sydney, Altman said while AI technology had reached a significant level of capability, the economic and organisational adoption of the technology was still in its early stages.

“Overall, I think the technology has gotten to a notable place,” Altman said.

The capability of the models had moved ahead of their deployment across companies and the broader economy.

“We have these incredibly smart models [but] I think one has to look at the state of the economic adoption and say we're still very early,” he said.

The gap means there is still plenty of work to do to integrate AI into society responsibly and for businesses to start seeing real bottom line benefits, Altman said.

But that work was coming at us quickly, and we can’t afford to take the “psychologically convenient” option of pretending that the changes were all way off in the future, he said.

Transparency in an uncertain time

Altman said the scale of AI's potential impact meant companies needed to talk about real concerns and not just rely on polished messages.

He said OpenAI has tried to build trust by sharing its thinking openly, even when those views were incomplete or later proved wrong. “We try to think out loud,” he said.

“I believe that so much of society here is going to be impacted by this, that we are all stakeholders, and it is better for us to be going in the direction of too much transparency and occasionally being wrong.”

Altman said OpenAI's own record showed how difficult it was to be certain where things would end up, saying the company had been more accurate on predicting how technology would develop than on the broader social and economic effects.

“My scorecard, at the highest level would be we've been roughly right on technological predictions and pretty wrong on the social and economic implications,” he said.

One of the areas where he personally had been wide of the mark was on AI’s short-term impact on entry-level white-collar jobs, which had not been nearly as bad as he had once predicted, he said. “I’m delighted to be wrong about that.”

Keeping AI human

Asked how his own use of AI had changed as the technology had evolved, Altman said one of the most revealing moments came when he tried using AI to manage personal communications, including emails and Slack messages.

He said it was an important example of drawing a line on what we did and didn’t want AI to do.

“We really do care about our interactions with people,” he added, saying his personal communication “which is a huge amount of my time, is not something that I can imagine myself outsourcing to an AI anytime soon”.

He said that experience has also helped shape how he thinks about how humans and AI will interact as the technology becomes more prevalent. Ultimately, “the world has got to be built for people and be better for people”, he said.

AI agents and new ways of working

Altman said companies were still working out how people and AI systems should collaborate, particularly as AI agents begin to interact with workplace tools and systems.

Human interactions meant there were well established norms in how companies communicated and did things, he said.

While technology could learn those norms, “we care about people. We don't care about machines that much,” he said.

“We have expectations about what we do with a person. And right now…we have not yet figured out how we're going to have a world where people and AI co-collaborate together.”

He said one of the issues was that today's AI agents were often being pushed through communication channels designed for people, but that was unlikely to be the long-term model.

“What I expect will happen is we will figure out new ways for agents to use our same services and interact with our same systems and data, but via a different channel,” he said.

Similarly, the next major shift in AI interfaces could be systems that are persistent and always running, rather than tools that only respond when prompted.

“Today, you still ask the system to do something for you, and it goes off and, you know, tries to figure it out and comes back.

“What I think will be possible soon is you will have an AI that is always running. It is understanding you and your goals and your company's goals. And it's just trying to be as helpful as it can given the amount of computing resources it has available.”

Read more

CEOs say AI having real world impact, but pressure is building
Opinion | The AI future Australia chooses to build
AI investment surge set to lift global economic growth and reshape trade

Resetting the speed of business

Altman said one of the main questions CEOs were now asking was not whether AI was happening, but how to run organisations when the technology was changing faster than traditional corporate planning cycles.

“How can I run a company on an annual or quarterly cycle when the whole world is changing every month, or every two months, or less,” he said.

“I think that business is going to get reinvented when the world has to move at a much faster clock cycle to be competitive,” he said.

Trying to retool businesses to meet the challenge was both “unbelievably difficult and inspiring to watch”, he said.

Altman said the speed of change meant companies could no longer wait for perfect certainty before moving. He pointed to the rapid adoption of AI coding tools as an example of how quickly enterprise thinking could change once leaders recognised the competitive implications.

“It was one of these moments where people realised, hey, if we don't get serious about this, we won't be competitive,” he said.

Acknowledging there had been upsides and downsides, it was “truly one of the most rapid adoptions of new technology at a serious enterprise level .. that I've ever seen”, he said.

But at the same time, “no one has a playbook about how to deploy those quickly enough across the company and make sure that people are being productive and secure with it,” he said.

He said the leading companies were allowing controlled experimentation, learning from use and adjusting quickly. “This is the thing that I've observed the best companies do,” he said.

Altman said OpenAI’s own approach has been making more bets, learning quickly and shifting resources decisively when one of those bets starts to work.

He said the difficult part was not experimentation, but letting go of other priorities quickly enough. “It's easy and fun to try a lot of bets. And then no matter how well one is working, it's always painful, in my experience, to stop doing other things, to concentrate on one area.”

The productivity question

For all the advances in capability and adoption, Altman said leaders were rightly asking whether AI was translating into measurable productivity and revenue gains.

“My best answer to that is it's all still very new, and it's just going to take a little bit longer, to figure out how a company actually does run more efficiently and to make these great new products,” he said. “But if a year from now we’re still talking about the same question, I'd be more concerned.”

Source: Marks on Sparks

VISITORS WELCOME DAILY FROM 10AM AT 165 OXFORD STREET, DARLINGHURST

Modern art disruptor, street and adventure artist Anthony Lister made his long-awaited return to exhibiting a new collection of work entitled ‘Circle of Life’ after a launch event on Wednesday 13 May officially opened by KC Margaret Cunneen. Due to its popularity, the exhibition has now been extended to open daily until Wednesday 10 June 2026 at 165 Oxford Street, Darlinghurst.

One of Australia's most heralded inner city street artists, Lister has made a mark globally, exhibiting in the artistic Mecca's of the world: New York, Japan, London.

Says Lister, “This isn't just an art exhibition – it's a return from exile. After watching the physical world get swallowed by screens, exhibiting again feels like reclaiming territory.”

“It's about putting something real, tactile, and undeniable back into a culture that's become increasingly intangible. This show is less a comeback and more a correction.”

The theme of the exhibition is media, vanity, and collapse.

“I've placed myself on the covers of magazines – not as a celebration, but as a disruption. It's me inserting myself into a system that manufactures identity and calling out its absurdity from within,” he said.  

“Where I am now as an artist is somewhere between reflection and resistance. I'm not chasing relevance – I'm interrogating it. This work sits in that tension: between ego and critique, visibility and distortion, beauty, and something far less comfortable.”

For Lister, each piece that will feature in 'Circus of Life' had to hold tension.

“If it was too comfortable, it didn't make the cut. If it didn't challenge the viewer – or me – it wasn't strong enough,” he said.

“Together, the works operate like a magazine that's slightly unhinged – familiar on the surface, but fractured underneath.”

The exhibition will offer collectors a rare opportunity to acquire a limited selection of some of Lister's works.

Source: Carter Capner Law

With at least ten people injured on a Cathay Pacific flight travelling from Brisbane to Hong Kong over the weekend, a leading aviation lawyer has raised concerns about the airline’s explanation, comparing it to the May 2024 Singapore Airlines turbulence accident.

Director of Carter Capner Law, Peter Carter, has represented airline passengers who have suffered severe injuries caused by turbulence and similar events for more than two decades, including those on Singapore Airlines Flight 321 that plunged in similar circumstances in 2024, killing one person and injuring more than 70.

“Cathay said its aircraft encountered a weather system that appeared with ‘little warning’, much like the initial explanation by Singapore Airlines, which claimed its accident was caused by unforeseeable ‘clear air turbulence’,” he said.

“However aircrews in both events would surely have received forecasts indicating the likelihood of thunderstorms on their planned route and ought to have been hypervigilant while transiting places of known convective activity.”

Mr Carter said Cathay’s explanation may prove to be as misplaced as that of Singapore Airlines, whose initial description of “clear air turbulence” was debunked only last week after the investigation found the accident was caused by flying too close to thunderstorms.

“Pilots are trained to stay well distant from storms because aircraft can be severely affected several thousands of feet above a thunderstorm cell and up to 20 miles laterally,” he said.

“A further investigation will be needed for the Cathay flight to determine exactly what happened – what weather was forecast; how close were the storms; how quickly did the aircrew react?”

He said turbulence events expose passengers to massive G force changes within milliseconds.

“They don't just float around the cabin in negative G, they are being flung with enormous force up and then down, hence the devastating injuries that result,” Mr Carter explained.

“My clients tell me that when a plane suddenly drops, it’s the most terrifying moment of their lives, with many believing they are about to die.

“Passengers in that category may have permanent suffering at work and in their personal lives, and even those who remain seated will struggle to ever fly again.”

He said passengers are entitled to compensation depending on the extent of their injury.

“Even if the airline is not at fault, the Montréal 1999 Convention enables passengers to claim up to A$260,000 for proven losses like medical expenses, loss of amenities of life and income loss for proven bodily injury.

“The airline must also pay a higher amount unless it proves the accident was not due to its negligence or that of its pilots or engineers, so in that respect there is no longer a limit on compensation.

“All passengers on the Cathay Pacific flight irrespective of where they live, are able to claim.”

As well as holding a private pilot’s licence, Mr Carter is a long-standing member of the Aviation Law Association of Australia and New Zealand and a member of the Lawyer-Pilot Bar Association (USA), and indicated he is investigating a claim for passengers aboard Cathay Pacific flight 156.

Carter Capner Law also acted for passengers and crew on LATAM Airlines Flight 800 which plunged suddenly between Sydney and Auckland in 2024, and QANTAS Flight 72 that plunged twice between Singapore and Perth in 2008.

Source: deVere Group

May 22 2026 – The blockbuster IPOs expected imminently from SpaceX, OpenAI and Anthropic could weaken the grip the Magnificent Seven — Apple, Microsoft, Nvidia, Amazon, Meta, Alphabet and Tesla — have held over Wall Street for years, says Nigel Green, CEO of global financial advisory deVere Group.

The comments come as Nasdaq moves to accelerate index inclusion rules for newly listed companies, opening the door for mega-IPOs with relatively small public floats to enter key benchmarks far sooner than under previous standards.

SpaceX is expected to launch one of the largest IPOs in history, with reports suggesting a valuation that could place it among the world's most valuable listed companies, while OpenAI has been valued privately at more than $300bn and Anthropic at around $100bn as investor demand for AI exposure intensifies.

Nigel Green says the implications extend well beyond IPO excitement.

“For years, Wall Street's gains have become increasingly concentrated in a very small group of mega-cap tech companies.

“The Magnificent Seven have dominated passive inflows, index performance and investor attention to an extraordinary degree.

“SpaceX, OpenAI and Anthropic could begin changing that balance as institutional capital begins shifting toward a new generation of AI and space giants.”

He explains that the emergence of a new wave of mega-cap public companies may force institutional portfolios, index funds and ETFs to redistribute capital that has remained heavily concentrated in existing tech leaders.

“These listings could ultimately trigger many tens of billions of dollars in passive reallocations as major indices absorb the new entrants,” says Nigel Green.

“Some of the companies which have led markets higher for years may begin facing structural dilution in index weightings and portfolio allocations.”

He notes that investors have become accustomed to a market environment in which a narrow group of US tech stocks disproportionately drives benchmark returns.

“Markets have been operating with unusually high concentration risk,” says Nigel Green.

“A relatively small number of companies have accounted for an outsized share of gains across major indices. The arrival of new AI and space leaders could alter the composition of market leadership in a meaningful way.”

The deVere CEO says the development reflects a broader transformation taking place across global capital markets as companies stay private longer, reach enormous scale before listing, and arrive on public exchanges with immediate institutional relevance.

“Traditional IPO rules were built for a different era.

“They were not designed for companies entering public markets at this scale with dominant AI infrastructure, major data ecosystems, or commercial leadership that's already established.”

Nigel Green argues that the growing influence of passive investing is amplifying the importance of index inclusion decisions.

“Passive investing has become one of the most powerful forces shaping modern markets.

“Once a company enters major benchmarks, enormous pools of institutional capital are effectively required to buy the stock. This creates a self-reinforcing cycle of demand, visibility and market influence.”

He adds that the emergence of SpaceX, OpenAI and Anthropic as public companies is likely to intensify competition for investor capital within the broader tech sector.

“Investors are unlikely to reduce enthusiasm for AI and tech overall,” says Nigel Green.

“But capital is finite.

“The arrival of new market giants inevitably changes how institutional investors allocate resources and manage concentration risk.”

Nigel Green concludes: “For the first time in years, the companies absorbing the largest passive inflows may no longer be only Nvidia, Microsoft, Amazon or Meta.

“SpaceX, OpenAI, and Anthropic are emerging at a scale capable of competing for the same institutional capital that has overwhelmingly concentrated in the Magnificent Seven throughout the AI rally.”

deVere Group is one of the world's largest independent advisors of specialist global financial solutions to international, local mass affluent, and high-net-worth clients.  It has a network of offices around the world, more than 80,000 clients, and $14bn under advisement.

Source: National University of Vanuatu (NUV)

The National University of Vanuatu (NUV) has celebrated its inaugural graduation ceremony, with 14 students taught by James Cook University (JCU) among the more than 250 graduates honoured for their academic achievements last week.

Professor Alana Grech, JCU’s Head of Academic Group of Earth and Environmental Sciences attended the ceremony in Port Vila today  (Friday 22 May) to celebrate the graduation of 14 students from the Bachelor of Environmental Science program, a collaboration between JCU, NUV and the University of New Caledonia (UNC).

“JCU lecturers teach 17 subjects, ranging from mathematics, physics, statistics, marine and earth sciences, zoology, and environmental management subjects in this program,” said Professor Grech.

“This milestone graduation reflects the shared vision of our universities to support capacity building in environmental science that’s both locally rooted and globally.”

She said the 24 environmental and science subjects are delivered by JCU in English and UNC in French.

“By delivering this bilingual program in Vanuatu, we are empowering graduates with the knowledge and skills to lead regional development and climate resilience in Vanuatu and across the Pacific,” said Professor Grech.  

“In addition, we are thrilled to announce that in August-September 2026, 10 Australian students from JCU Australia will be coming to Vanuatu for a four-week New Colombo Plan exchange program.

“This initiative follows the same initiative in 2025 where the first group of 10 JCU Australia students studied together with NUV students in Vanuatu.

“The program has fostered further friendship and collaboration between our institutions and provide valuable learning experiences for both Australian and Vanuatu-based students.”

Professor Grech also explained that, as a result of this Bachelor of Environmental Science program, and the New Colombo Plan Vanuatu program, JCU have three Vanuatu students pursuing their Master’s degree in JCU Australia under the SmartCable scholarship.

Approximately six JCU-NUV graduates are also applying for the 2026 round of Australia Awards scholarship, with the intention to also pursue their Master’s degree in JCU Australia.

“JCU is looking forward to welcoming these graduates as our Masters students next year,” added Prof Grech.

Dr Putu Liza Mustika, the Course Coordinator of the JCU-NUV Bachelor of Environmental Science, said JCU staff also had the opportunity to have a graduation dinner with the JCU-NUV graduates and the Ni-Vanuatu alumni of JCU Australia.

“During the dinner, we witnessed a very productive connection between the Ni- Vanuatu JCU-NUV graduates and the Ni-Vanuatu JCU Australia alumni where the latter were helping the former figure out pathways for Masters degrees in JCU Australia,” she said.

“To empower the local students, lecturers and staff, JCU is ready to help NUV should NUV wish to extend this joint Bachelor of Environmental Science program,” said Dr Mustika.

NUV Vice-Chancellor, Prof Jean-Pierre Nirua, expressed heartfelt congratulations to the graduates.

“Today’s ceremony marks a new chapter for our young university and our nation. These graduates are a testament to what is possible when dedication, partnership, and vision come together,” said Prof Nirua.

“NUV will continue expanding its programs and developing as a regional hub for higher learning and research.