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Benzinga
Benzinga
Business
Anusuya Lahiri

DeepSeek's New AI Model Sparks Rally In Chinese Tech And EV Stocks As Nvidia Retreats

DeepSeek Nvidia China NVDA United States Beijing NIO BABA ByteDance Huawei
DeepSeek Servers Top The List

Chinese tech and EV stocks surged Friday after AI startup DeepSeek unveiled its upgraded V3.1 AI model designed to run on domestic chips, igniting optimism around Beijing’s drive for AI independence just as Nvidia (NASDAQ:NVDA) halted production of its China-only H20 chip.

Alibaba Group (NYSE:BABA), Baidu (NASDAQ:BIDU), PDD Holdings (NASDAQ:PDD), NIO (NYSE:NIO), Li Auto (NASDAQ:LI), and XPeng (NYSE:XPEV) all climbed on the news, reflecting renewed confidence in China’s AI ecosystem.

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