One of the biggest beneficiaries of this trend is Nvidia (NASDAQ: NVDA), which pioneered the graphics processing units (GPUs) that have become the gold standard for running AI systems. However, reports emerged recently that suggested a Chinese start-up had cracked the code for developing strong AI systems while using inferior chips and novel training processes.

Retail investors bought a record amount of Nvidia stock on Monday after concerns over a low-cost artificial intelligence model from Chinese startup DeepSeek stripped 17% off its shares, or $593 billion from its market value.

Shares of chipmaker Nvidia (NVDA) plummeted 17% on Monday and lost nearly $600 billion in market value. The decline was triggered by the

Key Takeaways Nvidia shares tumbled Wednesday, dashing hopes for a quick recovery from losses earlier in the week amid concerns about competitiveness of American AI firms and their spending on artificial intelligence.

Rebounding tech stocks drove U.S. indexes higher Tuesday, a day after they tumbled on doubts about whether the artificial-intelligence frenzy really needs all the dollars being poured