U.S.-listed shares of tech giants are gaining some lost ground this morning after a China-based startup shocked the AI world with a powerful LLM. Yesterday, shockwaves rippled across the American tech industry after news spread over the weekend about a powerful new large language model (LLM) from China called DeepSeek.

Nvidia, a US company known for producing the powerful chips used in AI, took the hardest hit. Its stock price dropped 17% in a single day, wiping out nearly $600 billion in market value—the largest one-day loss for any U.S. company in history.

The Nasdaq could face market-cap losses of nearly $1 trillion if premarket declines hold into the close of trading.

Rebounding tech stocks drove U.S. indexes higher Tuesday, a day after they tumbled on doubts about whether the artificial-intelligence frenzy really needs all the dollars being poured

The soaring popularity of a new AI chatbot from Chinese startup DeepSeek, plus the company's low-cost and high-performance advances in AI development, sent U.S. tech stocks tumbling Monday. Chipmaker Nvidia's shares slumped 17%,