Daniel Ziffer

But for both the Reserve Bank and for the Treasury, this is a very difficult path to walk at the moment.

There is so much uncertainty and all those stock markets seem to be mostly shrugging off this major supply shock.

And we're still seeing the United States hit record after record when it comes to the S&P 500 and the Nasdaq.

Most economists are warning that this is going to be a very difficult few months for the global economy as we try to recalibrate.

But I do want to talk about the US stock market because the Magnificent Seven, they will be opening their books to investors this week.

We've already seen Tesla out with its results last week.

On one hand, there were some headlines saying that it had outperformed expectations, although I note that Tesla was actually, I think, still down for the week, despite the fact that we'd seen the Nasdaq hit record highs.

But this is five of the seven.

NVIDIA will be coming a little bit later in May.

But there is a lot at stake, isn't there, for these five companies.

A huge amount of money has been spent.

some more than others, on the artificial intelligence transformation.

But why do you think this could be such a critical week for not only those companies, but also the US stock market?

Yeah, this question about whether or not

AI investment is a zero-sum game, I think is fascinating.

And there are some futurists who say there will be one person who has the best model or one company that has the best model and they will therefore receive almost all the profit because that will be the one that everyone has to use.

There are some interesting relationships, though, between some of these tech companies.

For example, Apple...

is actually utilizing Google's AI in its products, despite the fact that Google and Apple are the big two players when it comes to the operating systems on smartphones.

The direct competitor is in one area, but Apple is leveraging off Google's investment in artificial intelligence.