A lot of people make money through tax evasion but far fewer manage to make money through tax compliance. Nonetheless, an artificial intelligence start-up led by a former Macquarie banker in San Francisco is aiming to do that, and is already valued at $150 million after barely a year of operation.

Founded by Australian Nicholas Rudder, Sphere launched in December last year as a tax engine that uses large language models to analyse tax law all over the world to help start-ups navigate their obligations.