Nvidia shares' 9% recovery Tuesday was the second-best day in terms of market cap added for any company ever, trailing only a record it set in July.

Technology stocks regained ground on Tuesday, a day after a low-cost Chinese AI model rattled markets, while traders rotated back into the dollar from safe-haven currencies. The tech rebound boosted Wall Street's main stock indices,

Nvidia staged a moderate rebound on Tuesday, rising as much as 3%, following a 17% drop the prior day. More broadly, major US indexes rallied after the S&P 500 and Nasdaq 100 saw sharp losses on Monday amid concerns over the Chinese AI firm DeepSeek's rapid and seemingly cost-effective advances.

This isn’t just about the TikTok precedent here. It’s about reciprocity, considering that China doesn’t allow products like ChatGPT, Gemini, Claude, and Meta AI. Apple Intelligence is also unavailable in China, as Apple has to partner with a local AI provider to release it. By the way, TikTok is also unavailable in China.

Chinese tech startup DeepSeek ’s new artificial intelligence chatbot has sparked discussions about the competition between China and the U.S. in AI development, with many users flocking to test the rival of OpenAI ‘s ChatGPT.

DeepSeek, a Chinese artificial-intelligence startup that’s just over a year old, has stirred awe and consternation in Silicon Valley after demonstrating AI models that offer comparable performance to the world’s best chatbots at seemingly a fraction of their development cost.