spending and inflation."While the timetable remains uncertain with the conflict, the combination of energy supply constraints and higher debt levels is bringing inflation concerns back to the forefront, having us lean into inflation hedges."Investors warn funding could go offshore if contentious changes to the way capital gains are taxed, go ahead.You can watch last night's story from business reporter Nassim Khadem below:It was a strong finish for trading on Wall Street, as all major exchanges rallied Spending on AI infrastructure continues to grow rapidly, with US tech giants, including Alphabet, Amazon and Microsoft, expected to spend more than $US700 billion on AI this year, a sharp jump from around $US400 billion in 2025.- ReutersFuel surcharges and price rises stemming from the Middle East conflict are affecting every facet of residential construction, pushing builders to the brink and driving up inflation.Business reporter Alison Branley looks at what’s going up and by how much, with the photos to match by John Gunn:Hello everyone and happy Thursday!Business reporter Adelaide Miller here to guide you through the morning blog.We'll be taking a look at all the top business, finance and economic stories.It's looking like the Aussie share market will open with a sea of green, as futures points up +1.4% to 8,646 points.We are also expecting the April jobs figures at 11:30am AEST today.In March, Australia's unemployment rate remained at 4.3%, the same as February, in seasonally adjusted terms.Employment increased by 17,900 people and unemployment decreased by 3,700 people.But for now, go and grab yourself a coffee and see you back here soon!