As more large companies invest in AI, questions have arisen about whether the AI bubble is going to pop. Swinburne Associate Professor of emerging technologies and FinTech, Dimitrios Salampasis, says the AI bubble is mostly driven by excitement and speculation rather than realistic profit expectations. “Conceptually, the AI bubble revolves around the fact that asset prices, hype and expectat
The United States has told the International Energy Agency (IEA) to move away from its net zero emissions goal, with the IEA now dropping climate change from its list of priorities. U.S. Energy Secretary Chris Wright said during the IEA’s ministerial meeting today that the U.S. would exit the organisation if it did not end its support for net zero within one year. Almost 200 countries, includin
Amazon, Microsoft, Google, Meta, and Oracle are tipped to burn through US$602 billion on infrastructure in 2026, with roughly 75% of that capex tied directly to the generative AI frenzy, funding servers, GPUs, optical networking, and the massive real estate footprints needed to rack it all. Goldman Sachs reckons cumulative hyperscaler capex will hit $1.15 trillion between 2025 and 2027 - which
Acclaimed filmmaker James Cameron has penned a letter to lawmakers, cautioning against Netflix's bid to takeover Warner Bros. Cameron, a veteran director, has been open about his concerns over the deal since it was first announced in December. Under the US$72 billion proposal, Netflix would acquire both the Warner Bros. film studio and its streaming platform, HBO Max, which was met with push
The United States has warned that Iran would be “very wise” to reach an agreement with Washington, as reports suggest the White House is weighing potential military action against Tehran as soon as this weekend. The comments came as American and Iranian officials continued nuclear negotiations in Geneva, Switzerland, aimed at finding a diplomatic solution to long-running disputes over Tehran’s
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The "Board of Peace", chaired by United States President Donald Trump, has met for the first time to discuss the future of Gaza. A list of promises for the rebuilding of Gaza was laid out, with Trump pledging $14.2 billion in aid from the U.S. for the war-torn region of Palestine. He also said the Board would be "almost be looking over the United Nations" to ensure it “runs properly” as the
United States pending home sales fell 0.8% in January amid insufficient supply growth, according to the National Association of Realtors (NAR). NAR’s pending home sales index declined to 70.9, despite Reuters-polled economists projecting a monthly increase of 1.3%. Pending sales also dropped 0.4% year-over-year in January. “Improving affordability conditions have yet to induce more buying ac
Walmart beat earnings and revenue expectations last quarter due to major boosts in e-commerce, though shares dipped on weaker-than-expected guidance. Adjusted earnings per share were US$0.74, up from $0.66 one year ago and above LSEG estimates of $0.73. Revenue rose 5.6% year-over-year to $190.66 billion, passing estimates of $190.43 billion. “The pace of change in retail is accelerating. It
The United States trade deficit blew out to US$70.3 billion in December, a 32.6% jump in a single month, wrong-footing economists who had pencilled in an improvement. For the full year, the gap between what America imports and what it exports — the trade deficit, meaning it buys more from the world than it sells — barely shifted, easing just 0.2% to $901.5 billion. That modest annual change
Ford is set to launch a new tech system in its electric vehicles, following in the footsteps of Tesla's Cybertruck. First commercialised by Tesla in 2023, the new 48-volt electrical architecture would be a major upgrade for a new generation of Ford EVs, which currently run on a 12-volt system. The new rollout will start with a pickup truck in 2027, with a US$30,000 (A$42,417.90) price tag, w
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