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I haven't seen an estimate for $50m for the super computer but guesstimating based off the available specs it's in the ~$2-300m range.

The current supercomputer was AUD 50m [1] and HP seems to have won a few expansion and other contracts for another AUD 50 - 70 million for the next few years. Which are all reasonable.

But it seems like the budget for the software was anything else than reasonable and has crazy budget overruns...

[1] https://www.tenders.gov.au/Cn/Show/?Id=3fd94307-e8eb-1220-4a...

Given the dates that's probably for Australis I, not Australis II that was rolled out in the robust program.
Yes you are right this was for Australis I.

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