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The stock market has seen a surge in enthusiasm for AI, with Nvidia becoming the first company to reach a $5 trillion valuation. Big Tech companies have announced significant increases in capital expenditure for AI infrastructure, and Nvidia CEO Jensen Huang described AI as forming a "virtuous cycle" of usage growth, investment, and improved technology. The Nasdaq Composite climbed 4.7% in October, and Amazon shares rose 9.6% on strong growth in its cloud-computing unit.

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