Just last week we discussed how AI computer chip maker Nvidia had become the world’s most valuable company worth $5.1 trillion, but yesterday it came down a notch with $646 billion wiped from its value. Nvidia’s stock price fell 6.7% yesterday – its 3rd day in a row of drops on the stock market – marking the biggest loss of any company in just 3 days. It means that rival tech firms Microsoft and Apple are back on top as the world’s 2 most valuable companies. As for what’s caused the decline, experts say it’s “plausible that investors began suffering from AI fatigue”. One thing people aren’t tired of is ultra-fast fashion, as Temu has become one of Australia’s top online retail brands. It’s overtaken Everyday Rewards, Flybuys, Coles Group, Google and Bunnings Warehouse to reach the 5th spot, with Amazon still on top.

Keen for more? Check out our News Club interview with the Australian Financial Review’s fashion editor Lauren Sams.