NVIDIA (NVDA, Financial) experienced a significant decline of over 5%, with its stock price falling to $113.90. This marks a 23% decrease from its all-time high on January 7. The downturn comes amid reports of a meeting between President Trump and NVIDIA's CEO, Jensen Huang, at the White House.
The discussions focused on the DeepSeek project and potential restrictions on the export of artificial intelligence (AI) chips. The meeting occurred before DeepSeek caused a stir in the U.S. tech industry. President Trump expressed concerns about the rise of Chinese companies, suggesting that American firms may not need to invest heavily in developing low-cost AI alternatives.