michelle fleury has more on the stellar report card. the number of times that al has been mentioned on earnings called this quarter is up sharply on the previous one, which helps explain why investors are so obsessed with nvidia's earnings. it's seen as a bellwetherfor ai, the chip giant's latest results show that demand is off the charts. nvidia reported a net income of $14.9 billion. with that another way, the company is making around $6.8 million in profit every hour. as for its revenue for the last few months, he came in at $26 billion — up a whopping 662% on the previous year. founder and ceo said the next industrial revolution has begun. the business was once billed on

chips taylor to gaming consoles has been transformed by demand from data centres, which are the heart of the generated ai boom. they said it share price on the stock, of 97% this year alone. we heard more analysis on those results with marc einstein, chief analyst, telecommunications and digital services at itr corp. i asked him if you think the momentum is currently sustainable. i can't remember the last time we were talking about triple digit growth in the tech industry. this is very exciting, but this is driven by the big data is in of players, and they do have a buying cycle, so i think we need to be a little bit cautious when we think about how long we can expect this kind of phenomenal growth to continue.— growth to continue. well, nvidia said _ growth to continue. well, nvidia said they _ growth to continue. well, nvidia said they will- growth to continue. well, nvidia said they will be i growth to continue. well, - nvidia said they will be having a ten for one stock split. what does that mean for investors? it means this is becoming one of the retail stocks. we're

going to institutional and retail, and that will change the dynamics.— retail, and that will change the dynamics. new versions cominu the dynamics. new versions coming out _ the dynamics. new versions coming out all _ the dynamics. new versions coming out all the - the dynamics. new versions coming out all the time - i the dynamics. new versions l coming out all the time - high coming out all the time — high is that different from even just a few years ago? what we're really _ just a few years ago? what we're really seeing - just a few years ago? what we're really seeing now- just a few years ago? what we're really seeing now is. just a few years ago? what i we're really seeing now is an arms race around the chip—makers to come out with bigger and betterfish every bigger and better fish every year —— bigger and betterfish every year —— chips every year. that means companies like amazon have said that they are going to closely follow the road maps of the chip—makers which are getting tighter and tighter. this will play very much into the revenue performance of nvidia and its competitors. meanwhile, here in asia, the ai boom as boosted prospects for companies like taiwan semiconductor — a contractor for manufacturing nvidia chips. japan's softbank is also betting big on al, with a multi—billion dollar investment in its uk chip design unit, arm. but in other parts of asia, the spillover effect is limited.

i spoke with tim waterer from kcm trade in sydney. blumath i think in it shows that the ai momentum doesn't seem to be slowing down anytime soon. that would bode well for companies like softbank. i think the companies will continue to invest in al. there will be some potential effect on the track for the economies and society in general. right now, when companies invest in al, i guess that's being rewarded by the shareholders. longer—term, there are some questions in terms of ai replacing jobs and that kind of thing. i know earlier this year, the imf forecast that al could affect 40% of forecast that al could affect 110% of globaljobs going forward to varying degrees. i think that's something we don't know the answer to longer—term. that's a question that's only

to be answered.— that's a question that's only to be answered. chinese tech companies — to be answered. chinese tech companies have _ to be answered. chinese tech companies have also - to be answered. chinese tech companies have also jumped | to be answered. chinese tech i companies have also jumped on companies have alsojumped on the ai bandwagon. how they stack up with leaders in the us the moment? i stack up with leaders in the us the moment?— stack up with leaders in the us the moment? i think nvidia are en'o in: the moment? i think nvidia are enjoying the — the moment? i think nvidia are enjoying the fruits _ the moment? i think nvidia are enjoying the fruits of _ the moment? i think nvidia are enjoying the fruits of that - enjoying the fruits of that first advantage we saw in the figures today. investors are looking on the periphery further companies because they're seeing the share price in nvidia and hoping they haven't missed the boat. i think there are a number of companies in terms of china and elsewhere. i think what we're seeing is we could see supplies to nvidia, seeing 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 country's biggest banks is predicting australia will become cashless by 2026. meanwhile, charities are worried that those without access to technology will be struggling with the transition. from sydney, phil mercer takes a closer look.

australia's 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 i've just noticed that there hasn't been as much cash around. a lot of the money i made was from coins. australia has lead the world in embracing digital payments, but some are being left behind. in low socio—economic areas, i think people that don't have access to technology, don't have access to actual smartphones — those individuals will have a really tough transition. i think it reallyjust 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's tangible. there's no fees on cash. most merchants now charge or pass on the fees - to their customers. that doesn't happen with cash. i like nice, clean notes that i can spend _ and know what i've got left at the end of the day. - there are also concerns about cyberattacks but can affect the digital economy. others are worried that without cash they will pay more in banking and card fees, while some don't 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 i'm left without the money on my card. experts believe that australia's march towards a future overwhelmingly dominated by digital

payments is unstoppable. we're 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. australia's reserve bank says the covid pandemic accelerated the decline of cash in favour 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. british mining giant anglo—american has were rejected a proposal worth around four $9 billion, but agreed to an extension to make another binding offer. anglo had dismissed the first two offers for being too cheap, but said that third was rolled out due to the structure of the

bill. anglo believes it's too complicated and requires its own shareholders. turning to india. they have seen lower inflows of investment for... the amount of money of raise is slipping to five—year lows. these numbers show that india raise about $71 billion in 2023-24. that is raise about $71 billion in 2023—24. that is marginally 2023—211. that is marginally lower than the previous year, but about 13% below the highs that we saw in 2020. the slowdown in foreign inflows raises concerns about india's ambitions to emerge as an alternative investment decision to china. the rbi says inflows have been affected by rising inflation and tough geopolitics. spender capital

and private equity funding and startups and private equity funding and startu ps could and private equity funding and startups could also have an impact. what's more, even of the foreign investments as a country falls —— in the country is falling, the amount of money investors have ta ken is falling, the amount of money investors have taken out has jumped by 30% this year. this could be because of investors casting out of their existing indian investments and allocating some of that money to other countries according to at least economist ice spoke to —— at least two. four and have billion dollars in indian equities a sense voting began on april the 19th. reflecting the nervousness in the market as it awaits the election. results will be and also the 11th ofjune. and officials are uncertain about whether the current level of interest rates in the us is high enough to ensure inflation comes on. some indicated they

were willing to raise the cost of borrowing. the last meeting was held before the replete reading on consumer prices which show cooling off in april. that's it for this edition of business today. i'll see you again soon. bye for now.

hey, i'm zof with the catch up. tonight — a uk general election begins, palestinian statehood and flamingoes. so, i hope you don't have many summer plans because prime minister rishi sunak hasjust announced a new general election. that's right — after months of batting away speculation about when the vote might be, he's finally pulled the trigger for the 11th 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 ten 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 11th 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, first at the age of 17. gertrude is part of a pack of 65 flamingos nature reserve in norfolk, and workers there said it was an incredible sight to see. —— at the age of 70. i absolutely love that. you're all caught up now. see you later. hello and welcome to sportsday. i'm gavin ramjaun. atalanta produce a stunning performance to win the europa league and end bayer leverkusen'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 — former premier league player ademola lookman with a sensational hat—trick, the first two before the break. and with leverkusen dominating possession but delivering little, lookman put the final beyond doubt, with his third of the night. atalanta winning their first major trophy in 61 years, and a first ever european title ending leverkusen's sensational winning streak. from the goal, i think even

before, _ from the goal, i think even before, they have been