Nvidia crossed below its 200 day moving average for the first time since 2023 this week. Analysts say the correction could deepen.

According to a paper authored by the lab, the DeepSeek-R1 model outperforms cutting-edge models such as OpenAI’s o1 and Meta’s Llama AI models across multiple benchmarks.

Nvidia stock surged as the AI chipmaker began to recover from a massive decline the prior day that shaved nearly $600 billion off its market cap.

Chip stocks in the U.S. and Europe rose on Wednesday for a second straight day, recovering from a punishing selloff triggered by China's low-cost DeepSeek artificial intelligence tool at the start of the week.