#DeepSeekImpact Nvidia shares were last trading above $126 after a choppy start on Tuesday, but were still trading well below Friday's $142.62 close. Oracle was up 3.3% after falling about 13.8% on Monday. Marvell Technology (MRVL.O), opens new tab shares were up 2.7% after falling 19% in the previous session.
While there were some doubts over DeepSeek's cost claims, Sam Altman, CEO of Microsoft (MSFT.O), opens new tab-backed OpenAI, called the company an "impressive model," while U.S. President Donald Trump called it "a wakeup call for our industries".
"We will obviously deliver much better models and also it's legit invigorating to have a new competitor!" Altman, the head of the AI firm behind ChatGPT, said, opens new tab in a social media post.
DeepSeek's sudden burst onto the AI scene has upended the industry's perception that China was years behind its bigger U.S. rivals.
Investors dumped tech stocks everywhere, with ripples felt from Tokyo to Amsterdam to Silicon Valley.
