Most AI compute has been driven by Nvidia chips, and we obviously have a deep partnership with Nvidia and will for as long as we can see into the future,” Jassy said on a cal

Nvidia stock rise has helped the chip maker to recoup a large chunk of its losses from the last week, when it witnessed a brutal selloff due to the Chinese start-up DeepSeek.

The ramifications of Chinese startup DeepSeek, with its promise of delivering cheaper, more energy-efficient alternatives to harness artificial intelligence, have yet to be fully reflected in U.S. equities. That’s the thinking of Don Townswick, director of equity strategies at Conning Asset Management, which oversees $170 billion in assets.