Monday’s bloodbath in Nvidia and other AI stocks wiped out some $1 trillion from the stock market’s value.

The emergence of the China-based AI app sent shares plummeting on Monday for many U.S. tech giants, including chipmaker Nvidia and AI-backer Microsoft.

The American company OpenAI has accused the Chinese startup DeepSeek of using its proprietary AI models. According to reports by the British newspaper "Financial Times" on Wednesday, these models were allegedly used to train the artificial intelligence developed by the Chinese company.

Wall Street is mainly focused on Apple's iPhone sales in China and any guidance related to its March quarter, which could include iPhone SE4 sales.

Tesla said it sold 1.79 million vehicles in 2024, the first drop in more than a dozen years despite offers of 0% financing, free charging and low-priced leases

Tesla's fourth-quarter net income fell 71% from a year ago, when results were boosted by a one-time tax benefit.