Mixed AI messages – NextDC plunges as SpaceX rises
Show notes
Thursday 22nd October 2026
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Phil and NAB's Taylor Nugent discuss how market sentiment around AI is rebounding following strong Q3 earnings from SpaceX, even as local infrastructure bottlenecks loom large—highlighted by NextDC's 42% stock plunge following delays to its Melbourne data centre rollout. Domestically, RBA Deputy Governor Andrew Hauser emphasized that the inflation backdrop has "materially worsened" relative to August projections, pushing market pricing for a November rate hike to nearly 50%, while NAB's monthly spend tracking showed resilient consumer spending driven primarily by non-mortgage holders. Globally, French 10-year bond yields climbed past 5% for the first time since 2002 as fiscal debate drags on, UK inflation printed slightly higher than expected at 3.5%, and oil prices remained elevated around $108 per barrel for Brent.
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