It’s no great surprise that shares in ASX Limited plunged as much as 13 per cent on Tuesday, after the market operator told investors that the cost of its great technology turnaround had ballooned.The update on expenses growth in the 2027 financial year – now expected to be between 18 per cent and 21 per cent – and the estimate of almost $400 million of capital expenditure over 2027 and 2028, is sadly what you’d expect to see when a company has chronically underinvested in its technology and systems, as ASIC found the ASX had done.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
AI is meant to slash tech costs. So why are they rising?
Expenditure inflation at ASX Limited is a common theme across the Australian market and the world, even as the artificial intelligence investment boom heats up.
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