Former Intel CEO Dismisses Nvidia Sell-Off, Says DeepSeek’s AI Growth Proves Shows AI Innovation. Nvidia Rebounds 9%

Nvidia shares rebounded 9% on Tuesday after plummeting 16% on Monday amid concerns over Chinese AI startup DeepSeek’s low-cost AI models. The sell-off erased nearly $600 billion in Nvidia’s market value, but former Intel CEO Pat Gelsinger dismissed fears as overblown. He argued that DeepSeek’s success proves AI’s growth potential rather than threatening industry leaders, likening it to the affordability-driven expansion of PCs and mobile phones. While DeepSeek’s cost-efficient AI has sparked speculation of a price war, Gelsinger maintains that cost reductions drive innovation. Nvidia’s quick recovery reflects ongoing uncertainty over AI’s future and investors’ long-term outlook.