00:00Share markets across the world have been hitting fresh record highs, especially in the US,
00:06Japan and South Korea, driven by rampant optimism about AI mega profits.
00:12Oracle, for instance, saw its share price surge 36% in a single day, on reports that
00:17it's signed a contract worth US$300 billion to provide ChatGPT with cloud computing services.
00:25The software giant also gave very rosy predictions about its future earnings.
00:29For instance, Oracle expects its cloud revenue to jump from US$18 to US$144 billion in just
00:36four years.
00:37And that surge in Oracle shares briefly led to its co-founder Larry Ellison dethroning
00:42Elon Musk as the world's richest man.
00:44However, the key difference between the two is that Ellison is still in Donald Trump's
00:49good books, while the Tesla boss isn't.
00:52Meanwhile, the local share market was a lot tamer in comparison, with the ASX and All Lords
00:57down 0.3%.
00:59South Korea stocks fell and gold miners rose sharply, as the precious metal spot price is
01:04still hovering near record highs.
01:05In fact, since the start of the year, Australian gold miners have seen their value skyrocket
01:11by 71% to their highest levels ever, while the price of the metal itself is up by just
01:1838%, which is nothing to sneeze at.
01:21So that suggests a lot of people are betting the gold price will keep rising.
01:25And what that implies is that the things which are worrying them right now about the economy
01:29and global affairs are not expected to go away any time soon.
01:34And the other reason why gold is so popular these days is because the US dollar has dropped
01:3810% since January, as investors have been losing confidence in the US economy for all sorts
01:44of reasons.
01:45And finally, the Aussie dollar is buying just over 66 US cents, around the highest it's been
01:50all year.
01:51And that's Firenets.
01:51And that's Firenets.
01:52And that's Firenets.
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