Short-term traders are proving eager to bet on a rapid recovery in Nvidia , pouring money into the three largest leveraged exchange-traded funds which are linked to gains in the share price of the AI chipmaking giant.

Nvidia Corp.’s $3 trillion run-up in market value in the two years since ChatGPT helped trigger an AI frenzy is bigger than any stock rally in history in such a short time span. But the landscape is now changing for the chipmaker.

Monday's massive selloff in AI-darling Nvidia's shares did little to blunt options traders' enthusiasm for the chipmaker's shares, with traders quick to pile back into bullish Nvidia contracts as the stock recovered on Tuesday.

The shock to financial markets came from China, where a company called DeepSeek said it had developed a large language model that can compete with U.S. giants but at a fraction of the cost.

U.S. indexes were sent sharply lower after Chinese artificial intelligence startup DeepSeek demonstrated a chatbot that it says rivals the top versions from OpenAI and Google for a fraction of the cost.

The $500 billion Stargate project will be critical to "maintain American leadership in AI," one of the partners said in a statement.

Wall Street’s superstars tumbled Monday as a competitor from China threatens to upend the artificial-intelligence frenzy they’ve been feasting on.

Silicon Valley and Washington leaders said the app shows China can challenge the U.S. The Nasdaq lost 3 percent and chipmaker Nvidia shed $589 billion in market capitalization.

A competitive artificial intelligence model from a Chinese startup showed high-powered AI can be done much cheaper than U.S. models perform. The prices of eggs are estimated to rise, despite promises from the White House otherwise. USA soccer player Naomi Girma has set a record for women in the sport.

The fallout: Several tech stocks slid yesterday, with AI chip maker Nvidia losing $589 billion in market capitalization. Trump said DeepSeek should be “ a wake-up call ” to tech leaders. Holocaust survivors marked the 80th anniversary of the liberation of Auschwitz.