Nvidia (NASDAQ:NVDA) stock jumped in Europe on Wednesday, suggesting shares in the company at the heart of the artificial intelligence markets boom may recover further after a steep drop this week triggered by the rise of China's DeepSeek AI tool.
Nvidia's Frankfurt-listed rose 2.7% in early trading in Europe, having closed up 8.9% on Wall Street on Tuesday.
The emergence DeepSeek's suite of AI tools as possible challengers, not just to incumbents such as ChatGPT and OpenAI, but as a sign development costs may be dropping rapidly, battered AI-linked stocks on Monday, wiping billions in market value off Nvidia, as well as other technology companies.
Nvidia shares fell 17% on Monday, which cost the company almost $600 billion in market value - the largest single-day drop in market capitalisation for any company on record.
