If anything, potentially less demand for Nvidia’s AI training chips could actually benefit the EV manufacturer.

Elon Musk doubts DeepSeek's claims about their AI capabilities, suspecting they possess significantly more Nvidia GPUs than disclosed. This comes amid

CEO Elon Musk seemed to agree with CEO of Scale AI Alexandr Wang suggesting that China's DeepSeek has about 50,000 H100 Nvidia's (NASDAQ:NVDA) chips, which they can't talk about due to U.S. export controls.

DeepSeek has disrupted the foundations of major American companies such as Nvidia, OpenAI, Google, and Meta, all of whom have dominated the AI sector for years.

Elon Musk reacted to a post that claimed that DeppSeek has about 50,000 Nvidia H100s that they can't talk about because of the US export controls that

Then there is the hype question. Since Chat GPT set off the AI gold rush in late 2022, Nvidia has been the ultimate “picks and shovel” play. But like investment in the early days of the internet, the AI boom has so far been based more on the belief that it will change everything than hard evidence that it can generate returns.

Elon Musk said there is a path for Tesla to become worth more than the next five most valuable companies combined. That’s Apple, Nvidia, Microsoft, Amazon.com, and Alphabet. Their market values total roughly $15 trillion.

A Chinese AI startup dethroned ChatGPT, tanked Nvidia's stock, and triggered a Big Tech panic. Is this the AI tipping point?

Meanwhile, a slew of other tech executives including Elon Musk, Jeff Bezos and Mark Zuckerberg are reportedly set to attend the events on Monday.

Musk even mocked DeepSeek in one of his social media posts, fueling further speculation about the company’s true capabilities.

Elon Musk has questioned the microchip claims made by DeepSeek AI, a fast-emerging player in the artificial intelligence pool, which is starting to challenge the United States' control over the AI industry. Newsweek has reached out to DeepSeek via email and Musk via X's press department for comment.

The major indexes rose toward record highs Thursday. Apple stock flashed a buy signal late on earnings while Deckers, Atlassian diverged.