We present an all-pairs shortest path algorithm whose running time on a complete directed graph on n
vertices whose edge weights are chosen independently and uniformly at random from [0, 1] is O(n2), in
expectation and with high probability. This resolves a long-standing open problem. The algorithm is a
variant of the dynamic all-pairs shortest paths algorithm of Demetrescu and Italiano [2006]. The analysis
relies on a proof that the number of locally shortest paths in such randomly weighted graphs is O(n2), in
expectation and with high probability. We also present a dynamic version of the algorithm that recomputes
all shortest paths after a random edge update in O(log2 n) expected time.