Nvidia shares' 9% recovery Tuesday was the second-best day in terms of market cap added for any company ever—but the company faced another selloff Wednesday.

Chip stocks in the U.S. and Europe rose on Wednesday for a second straight day, recovering from a punishing selloff triggered by China's low-cost DeepSeek artificial intelligence tool at the start of the week.

China’s DeepSeek says it trained an AI model for less than $6 million. This is as big U.S. tech companies have poured billions of dollars into AI chips and systems for their projects.

Other technology stocks trading at relatively low valuations to historical levels include Micron, Super Micro and Workday.

His recent purchase comes after selling some shares at $144.56 after Nvidia’s Consumer Electronics Show event. He said the selling was “to lock in a slice of tremendous gains.” Analysts mixed on Nvidia after DeepSeek release Several analysts updated their views on Nvidia shares after the DeepSeek breakout.