FEAR & GREED | Business News Tech sell-off escalates; CGT cut to help first home buyers; $92b high-speed rail link
9 snips
Feb 24, 2026 Markets see a tech sell-off driven by AI fears and shifting capital spending. The federal plan to scale back CGT concessions aims to free up housing for first-time buyers. A $92 billion Sydney–Newcastle high-speed rail proposal raises tunnelling and funding questions. Major retail owners plan thousands of apartments atop shopping centres, while new US tariffs stir global headlines.
AI Snips
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Trillion Dollar AI CapEx Raises Payback Questions
- Big tech is spending over $1 trillion on AI CapEx this year, creating investor concern about when payback will arrive.
- Michael Thompson contrasts NVIDIA's profitable chip sales with Microsoft and Amazon burning cash on AI infrastructure and seeing share price falls.
AI Threatens Software Vendors' Business Models
- Companies whose core products can be replicated by AI are being heavily de-rated, exemplified by Atlassian's steep share decline.
- Sean Aylmer notes Atlassian is down 56% this year and nearly 80% over 12 months amid fears AI can replace its collaboration tools.
Platforms Can Disrupt Incumbent Service Sectors
- AI platforms that reshape customer interactions can undermine incumbents across sectors like insurance and legal services.
- Sean Aylmer cites Insurify, a real-time comparison platform, as pressuring insurers IAG, QBE and Steadfast.