Jan. 28, 8:45 a.m. EST Shares of the two companies most severely impacted by the DeepSeek reaction, Nvidia and Oracle, rose about 3% apiece in premarket trading, though both American technology firms are still on track to open with a more than 10% weekly loss.

Nvidia was last higher by about 7% on Tuesday, with the rally gaining steam throughout the session. The stock at one point shortly after the open was in the red. That bounce comes

The S&P 500 and the Nasdaq hit over one-week lows, as the surging popularity of a low-cost Chinese artificial intelligence model DeepSeek knocked shares of chipmaker Nvidia and other companies benefiting from investments into the technology.

The shocking success of a new model from a mysterious Chinese lab has America questioning its leadership of the sector.

DeepSeek topped the Apple App Store chart and sparked fears the Chinese company was quickly catching up with OpenAI's ChatGPT while costing far less.