Gaming consoles, has been transformed by demand from data centres, which are at the heart of the generative ai boom and have sent its share price on a tear. The stock . Well, its up 97 this year alone. We had more insight into nvidias results with marc einstein, chief analyst, telecommunications Digital Services at itr corp. I asked him if he thinks the chip giants current momentum is sustainable. I cant really remember the last time we were talking about triple digit growth in the tech industry. So this is very exciting but, as youve said, this is being driven by the Big Data Centre players, and they do have a buying cycle and so i think we need to be a little bit cautious when we think about, you know, how long we can expect this kind of Phenomenal Growth to continue. Well, nvidia also announced that they will be having a 10 for 1 stock split. What does that mean for investors . I 10for1 stock split. What does that mean for investors . I mean what it really that mean for investors . I mean what it really means that mean for investors . I mean what it really means is that mean for investors . I mean what it really means is this that mean for investors . I mean what it really means is this is. What it really means is this is becoming one of the largest held retail stocks. And so, you know, were going from institutional to retail and that will change the Price Dynamics and the outlike of the outlook of the stock as well. Outlook of the stock as well. �. Well. And Artificial Intelligence well. And artificiali intelligence chips, well. And Artificial Intelligence chips, they are expensive, and new versions are coming out all the time. How is that different from even just a few years ago . And what does it mean for the industry . Mean for the industry . Right, so what were mean for the industry . Right, so what were really mean for the industry . Right, so what were really seeing i so what were really seeing right now is an arms race the big chip makers to come out with bigger and better, more efficient chips every year or even less than that. And so what that means is that Companies Like amazon have already said that they are, you know, going to very, very closely follow the road maps of the chip makers, which are getting tighter and tighter and this will again play very much into the Revenue Performance of nvidia and its competitors. Meanwhile here in asia, the ai boom has boosted prospects for Companies Like taiwan semiconductor, a contractor for manufacturing nvidia chips. Japans softbank is also betting big on al, with a multibillion dollar investment in its uk chip design unit, arm. I spoke with tim waterer from kcm trade, and asked him about the Spillover Effects hes seeing in asia. In terms of the industry in general, i think we can look at it as a case of a rising tide lifting all boats. Because, you know, i think that forecast from inindividual shows that the ai momentum doesnt seem to be slowing down any time soon, which would bode well for the companies you mentioned there taiwan semiconductor, softbank, courtesy of its investment in arm holdings. So i think that companies will continue to invest in al. But there will be some, you know, potential effects, you know, down the track for the economies and for society in general, i think. So right now when Companies Invest in al, thats being, i guess, rewarded by the shareholders. When they see the benefits on their bottom line. Longer term, i think there are some questions, you know in terms of ai replacing jobs and that kind of thing. So something to look out for. I know that earlier this year, the imf for example forecast that al could affect 40 of globaljobs Going Forward to varying degrees. So i think thats something we dont know the answer to longer term, how ai will affect the economy going ahead. So thats a question still to be answered, steve. ~. , answered, steve. Well, China Tech Companies answered, steve. Well, China Tech Companies have answered, steve. Well, China Tech Companies have also answered, steve. Well, China Tech Companies have also on| answered, steve. Well, china i Tech Companies have also on the ai bandwagon. Do you see offerings like baidu how do they stack up with leaders from they stack up with leaders from the us at the moment . The us at the moment . Well, i think nvidia the us at the moment . Well, i think nvidia are the us at the moment . Well, i think nvidia are certainly think nvidia are certainly still enjoying the fruits of that first mover advantage, which we saw in the figures today. But investors aring looking on the periphery for other companies because theyre other companies because they� re seeing other companies because theyre seeing nvidias share price and, you know, homing they havent missed the boat but looking for, you know, alternatives elsewhere, so i think there are a number of companies, for example the ones you mentioned in terms of china and else where where, so i think that what were seeing is that we could see, like, supplies to nvidia, their stock price also receiving a kick on effect as well. Turning to australia, where the rate of Digital Payments has shot up over the last few years. One of the countrys biggest banks is predicting australia will become cashless by 2026. Meanwhlie, charities are worried that those without access to technology will be struggling with the transition. From sydney, phil mercer takes a closer look. Australias economy is now moving to a different beat. Cash is no longer king. I used to do a lot more busking a few years ago and i had another go recently and ive just noticed that there hasnt been as much cash around. Australia has lead the world in embracing Digital Payments, but some are being left behind. In low Socio Economic areas i think people that dont have access to technology, dont have access to smartphones those individuals will have a really tough transition. I think it affects the disadvantaged communities probably in the most negative of ways. Banks are predicting that australia could become largely cashless within two years. It would be a blow to those who like the feel of real money and the sense of control that cash gives them over their finances. It is tangible. Theres no fees on cash. Most merchants now charge, or pass on the fees to their customers. That doesnt happen with cash. I like nice, clean notes that i can spend and know what ive got left at the end of the day. There are also concerns about Network Outages or cyberattacks that can disrupt the digital economy. Others are worried that without cash they will pay more in banking and card fees, while some dont trust Financial Services to behave ethically in a cashless society. I felt insecure tapping. I felt like they could just put in an extra amount and im left without the money on my card. Experts believe that australias march towards a future overwhelmingly dominated by Digital Payments is unstoppable. Were pretty far along the path. We have compared to a lot of countries around the world really sophisticated Point Of Sale equipment. I mean, anyone who pays with a tap card here compared to trying to do that in the us has had that experience. And, so, we make it very easy. Australias reserve bank says the Covid Pandemic accelerated the adoption of contact free payments. Notes and coins are unlikely to become fully extinct. Some australians are cashing in while they can. Phil mercer, bbc news, sydney. The minutes from the us Central Banks last Policy Meeting indicate fed officials are uncertain about whether the current level of Interest Rates in the us is high enough to ensure inflation comes down. Some even indicated they are willing to raise the cost of borrowing if inflation suddenly spikes. Worth noting though that the last fed meeting was held before the latest reading on consumer prices, which showed them cooling off in april. Turning to india now. Once a darling of Global Investors, india has continued to see lower inflows of fdi or Foreign Direct Investment for the second year in a row, our India Business correspondent Nikhil Inamdar has more on whats going on. Well, these numbers released by the rbi shows that india raised about 71 billion from Foreign Investors in Financial Year 202324. That is investors in Financial Year 2023 24. That is marginally lower than the previous year, but about 13 below the highs that we saw in 2020. Now, the slowdown in foreign in flows raises concerns about indias ambitions to emerge as an alternative investment destination to china. The rbi says the in flows have been affected by rising protectionism globally and tough geopolitics. Reduced Venture Capital and private Equity Funding into start ups could also have had an impact. Whats more, even as the in flow Foreign Investments in the country is falling, the amount of money that Global Investors have ta ken amount of money that Global Investors have taken out of india hasjumped by 30 investors have taken out of india has jumped by 30 this year. This could be because of investors cashing out their existing india investments and re allocating some of that money to other countries according to at least two economists i spoke with. Meanwhile, short term foreign Institutional Investors have also sold about 4. 5 billion in indian equities since voting began here on april 19, reflecting the nervousness in the market, as it awaits the election outcome. Results will be announced on 4 june. British mining giant Anglo American has rejected bhps third Takeover Proposal Worth around 49 billion. But they have agreed to a one week extension, to allow bhp to make another binding offer. Anglo had dismissed the first two offers for being too cheap, but says the third offer was ruled out due to the structure of the deal, the European Space agency has allocated money for a new space weather satellite. Called vigil, it will be able to see the side of the sun about to face sun, giving forecasters a further three to four days notice of solar storms. It will be built in britain at a cost of about 370 million. And thats it for this edition of business today. Thanks for watching. Hey, im zof with the catch up. Tonight a uk General Election begins, Palestinian Statehood and flamingoes. So, i hope you dont have many summer plans because Prime Minister rishi Sunak Hasjust announced a new General Election. Thats right after months of batting away speculation about when the vote might be, hes finally pulled the trigger for the fourth ofjuly. The conservatives are currently behind the labour party in the polls, but after positive news today that the rate of inflation is now down to 2. 3 , mr sunak stresses his party is the only one who could offer long Term Economic security. This is what he said outside number 10 earlier. Earlier today, i spoke with his majesty the king to request the dissolution of parliament. The king has granted this request and we will have a General Election on the fourth ofjuly. Ireland, norway and spain have announced they will formally recognise a Palestinian State from the 28th of may. Only a handful of countries already recognise the territories as a separate state from israel and the un only granted It Observer Status which allows it to take part in its proceedings, but does not give it a vote in 2012. Spain and ireland said the move was not intended as a slight against israel or a show of support for hamas, but rather a call for peace. Time now to leave you with ten seconds of a flamingo that was unlucky in love, but has now amazingly later, Laid Herfirst Egg at the age of 70. Gertrude is part of a pack of 65 flamingos at Pensthorpe Nature Reserve in norfolk, and workers there said it was an incredible sight to see. I absolutely love that. Youre all caught up now. See you later. Hello and welcome to sportsday. Im gavin ramjaun. Atalanta produce a stunning performance to win the Europa League and end bayer levekusen� s season long winning run. The talk turns to the vacant managerial Premier League posts, with chelsea among the clubs on the hunt for a new boss. And many happy returns to Novak Djokovic who wins on his 37th birthday in geneva. Hello there, and welcome along to sportsday, and after a sensational 51 match unbeaten run, and on the brink of an invincible season in all competitions, Bayer Leverkusen fell at the final stage in the Europa League on wednesday night. They were beaten by atalanta in the final in dublin, the italian side themselves making history