Last Week in Tech - Nvidia Doubles, Meta Pays $18 Billion, and the Musk-Altman Feud Reaches Your Code Editor

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Last Week in Tech – Nvidia Doubles, Meta Pays $18 Billion, and the Musk–Altman Feud Reaches Your Code Editor

Your Monday roundup of the technology and security stories that mattered to Australian businesses in the week of 24–30 August 2026.

In this episode:

• Nvidia's record quarter (26 Aug). Revenue US$96.2bn, up 106% year-on-year; data centre US$89bn (~93% of the company); Q3 guided to ~US$108bn and CFO Colette Kress forecasting ~70% growth for fiscal 2028. What an accelerating AI capex cycle means for your cloud pricing and FY27 budget.
• - Meta's teen-harm settlement (26 Aug). Up to ~US$17bn — Meta itself puts it at ~US$18bn over ten years, ~US$12.7bn guaranteed — settling the multistate lawsuit filed by 33 state attorneys-general, without a finding of liability, but with enforceable product changes: two-hour daily limits and a midnight–6am curfew for under-18s, likes hidden by default on children's accounts, cosmetic filters banned for minors, most school-hours notifications off. A template for how Australia's under-16 social media ban could be enforced, and a warning on design-liability risk.
• - OpenAI to cut Cursor off (29 Aug). After SpaceX's US$60bn acquisition of Cursor-maker Anysphere closed on 14 Aug, OpenAI proposed ending model access on 12 November, citing its litigation history with Elon Musk's companies. Cursor says OpenAI models are ~5% of traffic. Concentration risk in AI dev tooling: know which models your tools depend on.
• - Alibaba's Wan 3.0 (24 Aug). Document-to-video AI at ~US$6 per 30-second clip — and the data-sovereignty question to ask before marketing uploads anything.
• - Security round. Citrix NetScaler CVE-2026-8452 (8.8 CVSS v4.0) — disclosed in June as denial-of-service, reclassified to unauthenticated RCE, added to CISA's KEV on 26 Aug with web shells found on compromised appliances; Zimbra CVE-2026-73570 (8.9 CVSS v3.1) — single-email command injection, 270+ servers confirmed compromised, ~8,200 still unpatched; and Boston Scientific's still-unattributed cyberattack halting order shipping and manufacturing worldwide.

Coming up: Wednesday, the Quest Apartment Hotels breach. Friday, Manchester Airports Group in full.

Visit www.kinsoft.com.au to talk through your security and IT needs.

Sources: CNBC, Fortune and Kiplinger on Nvidia Q2 FY2027 results (26 Aug 2026); CNN Business, Bloomberg and Al Jazeera on the Meta settlement (26–27 Aug 2026); CNBC and the OpenAI blog on Cursor model access (29 Aug 2026); Seeking Alpha on the SpaceX–Anysphere close (14 Aug 2026); Dataconomy and Winbuzzer on Alibaba Wan 3.0 (24–25 Aug 2026); Help Net Security, SecurityWeek, BleepingComputer and CISA KEV on Citrix CVE-2026-8452; The Hacker News, runZero, Shadowserver and CCB Belgium on Zimbra CVE-2026-73570; TechCrunch, The Register and BleepingComputer on Boston Scientific (26 Aug 2026).