Nvidia faces significant pressure ahead of its earnings report amid competition from DeepSeek, which has demonstrated an ability to develop high-performance AI models with less hardware. Despite initial market reactions contributing to a $600 billion loss in Nvidia's market cap, some cloud firms reported increased demand for Nvidia chips due to DeepSeek's advancements. CEO Jensen Huang argues that investors mistakenly reacted to the competition, and the quarterly reports, now likened to a 'State of the Union' for tech, are pivotal in shaping the outlook for AI investments.
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DeepSeek burst onto the scene in late January with reports it could produce high-performance models with fewer and less powerful hardware than its US competitors.
Nvidia lost $600 billion in market capitalization in a single day. The stock eventually stabilized - and some cloud firms said DeepSeek's AI models ultimately led to an increased demand for Nvidia chips.
Nvidia's quarterly reports have become a State of the Union-type event for the tech. CEO Jensen Huang thinks investors got it wrong after the sell-off.
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