Nvidia rebounds after major market cap loss due to competition from Chinese startup.

From CNBC: 2025-01-28 07:29:56

Nvidia CEO Jensen Huang unveiled the latest innovations at CES 2025 in Las Vegas. The stock initially rebounded 2.6% after a major drop, losing $595 billion in market cap. The sell-off was triggered by fears of an AI bubble bursting due to a cheaper model from Chinese startup DeepSeek outperforming OpenAI. Wall Street analysts remain optimistic about Nvidia’s long-term prospects despite the DeepSeek developments.

Read more: Nvidia is rebounding after biggest market cap loss in history, but it’s a fragile bounce