Importantly, several Wall Street analysts have updated or reiterated their forecasts since DeepSeek published its research paper last week, and they all see upside in Nvidia stock from its current price of $128 per share. Gil Luria at D.A. Davidson set his target price at $135 per share, implying a 5% upside.

Optimists looking for an encore performance from Wall Street were handsomely rewarded in 2024. Last year, the Dow Jones Industrial Average, S&P 500, and Nasdaq Composite all achieved multiple record-closing highs and ended higher by 13%, 23%, and 29%, respectively.

Republican John Moolenaar and Democrat Raja Krishnamoorthi, who lead the House Select Committee on China, asked for the move as part of a Commerce and State Department-led review ordered by President Donald Trump to scrutinize the U.S. export control system in light of "developments involving strategic adversaries."

Nvidia said in a statement it is "ready to work with the administration as it pursues its own approach to AI."

President Donald Trump has threatened to impose tariffs on Taiwan-made chips, which could hit Nvidia, one of TSMC's biggest customers.

Taiwan’s government will soon look at whether it needs to help its domestic industry over threats by President Donald Trump to put tariffs on semiconductors, Premier Cho Jung-tai said on Wednesday.

President Donald Trump will meet with Nvidia Corp. chief executive Jensen Huang at the White House on Friday, according to people familiar, days after a new Chinese AI model from DeepSeek sparked concern among technology industry leaders and tanked the US stock market.

U.S. President Donald Trump will meet with Nvidia chief executive Jensen Huang at the White House on Friday, a White House official said, following reports the Trump administration is studying new ways to restrict AI chip sales to China.

CEO Jensen Huang and U.S. President Donald Trump are set to meet today, according to a Bloomberg report citing an unnamed source.

The president joined leaders from OpenAI, Oracle and SoftBank to launch the ambitious project, but questions remain about its implementation, offerings and timeline.

President Donald Trump is scheduled to meet with Nvidia CEO Jensen Huang at the White House on Friday, when they will discuss AI, chips as well as the industry's energy needs.