Importantly, several Wall Street analysts have updated or reiterated their forecasts since DeepSeek published its research paper last week, and they all see upside in Nvidia stock from its current price of $128 per share. Gil Luria at D.A. Davidson set his target price at $135 per share, implying a 5% upside.

Nvidia shares' 9% recovery Tuesday was the second-best day in terms of market cap added for any company ever—but the company faced another selloff Wednesday.

Meanwhile, a slew of other tech executives including Elon Musk, Jeff Bezos and Mark Zuckerberg are reportedly set to attend the events on Monday.

The Chinese start-up DeepSeek’s latest large language model has been described as a ‘Sputnik moment’ for the American tech industry

On Monday, as DeepSeek’s recently introduced innovations wiped over $1 trillion off the value of U.S. stocks, and just days after announcing a privately funded $500 billion AI infrastructure push, President Donald Trump said DeepSeek’s rise was “a wake-up call for our industries that we should be laser-focused on competing to win.”

The US president wants US tech companies to dominate artificial intelligence but acknowledges the challenge posed by the low-cost rival, DeepSeek.

Nvidia CEO Jensen Huang Huang said he will be celebrating Lunar New Year with employees.

Silicon Valley and Washington leaders said the app shows China can challenge the U.S. The Nasdaq lost 3 percent and chipmaker Nvidia shed $589 billion in market capitalization.

Cathie Wood, chief of Ark Investment Management, believes in tech stocks that will have a disruptive impact. She isn’t afraid to buy them on the way down — or up. Sometimes her strategy works: The flagship Ark Innovation ETF (ARKK) has returned 9% this year as of Jan.

I can’t say that I can honor something I haven’t read,” Howard Lutnick, Trump’s nominee for commerce secretary, said of the binding CHIPS and Science Act awards in a confirmation hearing on Wednesday.