elon musk is set to unveil his latest ai chatbot. he calls it "the smartest on earth", but can it compete against chatgpt and deepseek? opting to fly private. we look into why luxury air travel is

hello and welcome to business today. to launch a new chatbot, developed by his artificial intelligence startup xai. the multi—billionaire has described grok 3 as "the smartest al on earth". i've been speaking to technology analyst dan ives, who says the entire industry is at a pivotal moment. chatg pt and deepseek. i mean, this is really a shout across the bow from elon musk

10 billion a year and doing so efficiently can't compete. has deepseek changed that thinking? of a shot across the bow from china, and that has put a little fire under notjust musk, but i think other us tech players. but it's not stopping here. we're talking 25 billion that will be spent. and its next stage of birth. and its next stage of growth. impeachment calls over his promotion of a cryptocurrency.

last week, milei posted on x about the $libra coin, the cryptocurrency to shoot up. zsome, were .. .

value nosedived, causing really piece of we got a really nice piece of economic data which was the fourth quarter of inflation that showed it is going even better, inflation is falling quicker. i think this was a relatively straightforward decision today given interest rates were above the normal level and inflation is coming back. so, yes, straightforward decision, although they did leave a lot of caution going forward. ,, ~ ., forward. do you think that erha -s forward. do you think that perhaps echoes _ forward. do you think that perhaps echoes the - forward. do you think that perhaps echoes the us - forward. do you think that - perhaps echoes the us federal reserve and you expect them to follow their lead to? i reserve and you expect them to follow their lead to?— follow their lead to? i think it is very — follow their lead to? i think it is very like _ follow their lead to? i think it is very like the _ follow their lead to? i think it is very like the fed - follow their lead to? i think it is very like the fed in - follow their lead to? i think l it is very like the fed in many ways. inflation has come down. when they lifted interest rates

to restrictive level, inflation has come down, but the economy is still 0k. has come down, but the economy is still ok. so this is not a signal we are going to see a series of rate cuts ahead. so thatis series of rate cuts ahead. so that is their caution. they also added a bit around geopolitics. they don't specify president trump, but tariffs will be in the mix as the year goes by in terms of the inflation outlook.- goes by in terms of the inflation outlook. �* ~ inflation outlook. the rba said the outlook — inflation outlook. the rba said the outlook does _ inflation outlook. the rba said the outlook does remain - the outlook does remain uncertain, so what does that mean for anthony albanese? an election has to be called by may of this year. he election has to be called by may of this year.— may of this year. he will be delighted- _ may of this year. he will be delighted. the _ may of this year. he will be delighted. the government may of this year. he will be - delighted. the government has a show of the cost of living, financial stress is the biggest issue facing voters, so some relief on inflation coming down and a bit of interest rate relief will be a bit of a boost to people. and i wouldn't be surprised, the election has to be called by mid—may and i wouldn't be surprised if the prime minister because it pretty quickly. prime minister because it pretty quickly-—

prime minister because it pretty quickly. prime minister because it re cuickl . ., , pretty quickly. ok, thanks very much for that, _ pretty quickly. ok, thanks very much for that, peter _ pretty quickly. ok, thanks very much for that, peterjolley, . much for that, peterjolley, from macquarie university. here in singapore, prime minister lawrence wong is set to announce the first budget of his term.

meta has announced plans to build the world's longest undersea cable, to shore up internet connectivity for its ai projects. the 50,000—kilometre cable spans across five continents, passing through the us, india, south africa, brazil and other regions. it is also the latest move by the parent company of facebook to expand its presence in al and the infrastructure that supports it. australia's central bank has just announced it is cutting interest rates for the first time since 2020. the move was widely expected by analysts as inflation has shown signs of slowing. and in the next

i'm will perry.