The Australian sharemarket erased its morning gains after the release of the nation’s latest inflation figures increased pressure on the Reserve Bank to lift interest rates next week.

The $US100 billion mega-IPO simply has to succeed. If it doesn’t, it will threaten the AI industry’s access to the trillions of dollars of new capital it needs over the next few years.

The Australian sharemarket had a muted morning but finished in the green thanks to a rally by BHP and Rio Tinto shares.

The Australian sharemarket has rebounded after an early fall to close in the green, with materials and energy stocks posting gains.