Australian shares opened sharply lower Tuesday, joining a global selloff triggered by tech stock declines in South Korea and the US. Because nothing says 'Monday morning' like watching your portfolio imitate a skydiver without a parachute.
Meanwhile, a new study has revealed that Australians are now unhappier than they were during the pandemic. That's right - lockdowns, toilet paper shortages, and sourdough obsessions were apparently the good old days. The findings suggest that post-pandemic life, with its inflation, housing crisis, and disappearing cost-of-living confidence, has somehow managed to top the collective misery of 2020.
In other news, independent senator David Pocock has entered the AI datacentre debate with an opinion piece demanding Australians get a 'fair return' from the digital gold rush. Microsoft has announced $25 billion for Australian datacentres, and Amazon Web Services has committed another $20 billion - sums that would make even Scrooge McDuck blush. Prime Minister Anthony Albanese has been photographed grinning alongside the CEOs of both companies, apparently viewing billions in investment as the perfect photo op, despite growing community backlash against AI infrastructure.
Pocock argues that if these datacentres are going to power the AI revolution, Australians deserve more than just a prime ministerial handshake. At a time when economic growth is sluggish, the government sees the investment as a headline win - but the senator is asking whether the country is getting its fair share of the chips.