One might think that artificial intelligence (AI) chip king Nvidia (NASDAQ: NVDA) might not be so pleased with the Chinese company DeepSeek, considering that news of DeepSeek's achievement in the AI space led to an intense single-day sell-off that erased roughly $600 billion of Nvidia's market cap on Jan.

The emergence of a small Chinese artificial intelligence (AI) company called DeepSeek initially put a giant hole in the U.S. stock market. Tech stocks -- particularly those connected to the AI trend -- got crushed,

The week was a rollercoaster ride for the tech industry, with significant developments in the AI sector and the stock market. The emergence of China's DeepSeek R1 artificial intelligence model coincided with a $600 billion decline in Nvidia's market value.

The chip maker's shares are falling with the wider market after President Donald Trump says he intends to impose levies on imported semiconductors.