An Evercore analyst expects an upbeat earnings report later this month and runs down why DeepSeek fears seem overdone.

There was mixed news to start the week from Nvidia’s key supplier Taiwan Semiconductor Manufacturing, or TSMC.

Over the past year, a number of semiconductor stocks have witnessed meteoric gains thanks to ongoing euphoria surrounding artificial intelligence (AI). The share prices of Nvidia, Taiwan Semiconductor Manufacturing, and Broadcom have all risen approximately 80% over the last 12 months -- handily outperforming both the S&P 500 and Nasdaq Composite.

Nvidia stock came under pressure from a report that ChatGPT creator OpenAI is pushing ahead with plans to develop its own AI chips.