00:00Well, fears of an AI bubble are back and the biggest casualty was Oracle, the US tech giant
00:07founded by billionaire and Trump ally Larry Ellison. Around $100 billion was wiped off
00:12its market value after its shares plunged 11% to a six-month low. That's after the
00:17company revealed its debt pile has surged to about $150 billion as it ramps up spending
00:23on artificial intelligence. Now, the world's biggest companies have been spending trillions
00:27on developing AI and its infrastructure. But it's gone to a point where people are questioning
00:32whether this extravagant spending will actually pay off for most companies. So that led to
00:37a slight fall on America's tech index, the NASDAQ, but record highs for the Dow and S&P
00:42as people sold out of tech and bought into sectors which aren't as overvalued. Meanwhile,
00:48the Australian share market jumped 1.2% thanks to a sharp rise in gold, copper and zinc prices,
00:53but not oil or iron ore, which led to big gains for local mining stocks. While ANZ rose,
01:00even though it's getting sued by its former CEO Shane Elliott, after it took away $13.5 million
01:05from his bonus. In currencies, the Aussie dollar is buying 66.6 US cents and the price of silver
01:12has surged well above $60 US an ounce, which is a new record high. One reason is because the US
01:18government recently added silver to its list of critical minerals and their speculation President
01:23Trump might impose tariffs on it at some point. Its price has more than doubled since the year began,
01:29so it's doing even better than gold and Bitcoin, the so-called digital gold, which is actually down
01:34for the year and not really a safe haven asset. And that's finance.
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