AI stocks led the way, again, with Palantir going up 1.1%, Nvidia rising 0.91% and Amazon climbing by 0.81%. In the absence of macro jobs data due to the U.S. government shutdown, traders are piling into AI stocks, ING told clients this morning. Stocks are benefiting from the massive amount of capital expenditure (capex) coming from companies that are investing heavily in AI. Goldman Sachs notes that, increasingly, it is coming from debt. Over the last three years, most capex came from the cash sitting on tech companies’ balance sheets.