Nvidia (NASDAQ: NVDA) made stock market history on Monday, Jan. 27, but not the good kind. The chipmaker saw its share price decline 17%, due to concerns about an artificial intelligence (AI) model from Chinese start-up DeepSeek.

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.

Jeffrey Emanuel says Wall Street banks that are bullish on Nvidia “have absolutely no idea what they’re talking about.”

DeepSeek was reportedly developed in just two months at a cost of under $6 million — a stark contrast to the billions typically spent by US giants.

Here’s why this story is so treacherous from a standpoint if you’re betting against US AI and companies like Nvidia.

CNBC’s Jim Cramer on Friday told investors DeepSeek might not pose as serious a threat to Nvidia’s sales as many investors feared this week.

Monday’s bloodbath in Nvidia and other AI stocks wiped out some $1 trillion from the stock market’s value.

On Wall Street, all eyes are on Nvidia Corp.’s stock as chart-watchers search for signs the chipmaking giant will resume a rally, given its power to sway the broader market.

Technology stocks were rocked to their core Monday after claims made by a Chinese start-up threatened to upend the existing artificial intelligence (AI) paradigm.

DeepSeek, a Chinese artificial intelligence startup, has developed a model that can apparently answer questions as well as any chatbot in the US. It might even help answer a long-running question on Wall Street without being asked.

Nvidia and other U.S. tech stocks are holding steadier Tuesday, a day after tumbling on doubts about whether the artificial-intelligence frenzy really needs all the dollars being poured into it.