The emergence of a small Chinese artificial intelligence (AI) company called DeepSeek initially put a giant hole in the U.S. stock market. Tech stocks -- particularly those connected to the AI trend -- got crushed,

The chip maker's shares are falling with the wider market after President Donald Trump says he intends to impose levies on imported semiconductors.

DeepSeek has launched an AI model that was reportedly developed with significantly less computational power than traditional methods. Shares of Nvidia are under pressure amid concerns that DeepSeek's methods may undermine demand for its high-performance GPUs.