While everyone was watching Firmus Technologies’ heavily publicised roadshow last week, another Australian AI company has been quietly raising money on the side - $210m to be exact. Future Secure, founded by a former Macquarie investment banker and an ex-McKinsey consultant, sells automated co-workers, each with their own name and face, to create an AI avatar used in banks, law firms, and private equity funds - scary I know. The business is pushing towards a US$1bn IPO in 2027.
With Firmus Technologies, Canva, and now Future Secure set to go public in the next couple of years, it's clear that Australia’s AI capabilities are growing - and investment from big US tech companies support this:
June 2025 Amazon committed $20bn to Australian data centres
December 2025 NEXTDC signed an agreement with OpenAI (creator of ChatGPT) to become Australia’s regional AI infrastructure partner
April 2026 Microsoft announced its $25bn investment into Australian AI infrastructure, its largest investment ever in Australia
There’s clear demand for Australia, for its political stability, renewable energy, and proximity to Asian markets.
However, Australia’s AI landscape is minuscule compared to the US. As the ABC’s Alan Kohler pointed out, Amazon, Google, Microsoft, and Meta collectively generated profits of $151bn last quarter alone - more than every single company on the ASX combined. Those four companies are also worth over $10 trillion USD, over four times the entire ASX. But we’re not racing against the US. While Australia plays a supporting role in the global AI economy, its relationship with these US tech giants may be more valuable than most people realise. Australia isn't leading the AI race. But it's closer to the track than the narrative suggests.
