The world's second most valuable company has been the top beneficiary of an AI-driven spending spree by big technology companies over the past two years.

Chinese tech giants Tencent, Alibaba, and ByteDance are ramping up orders for Nvidias (NASDAQ: NVDA) H20 AI chip due to soaring demand for DeepSeeks cost-efficient AI models, sources told Reuters. This surge

A recent stumble, however, came after the Chinese startup DeepSeek unveiled a lower-cost AI model that was seen as a threat to the dominance of U.S. rivals, driving Nvidia down roughly 17% on January 27, equivalent to $593 billion — a record one-day market value loss.

DeepSeek majorly impacted Nvidia last month: its market cap dropped by $600B in one day. The chip giant will respond on this week's investors' call.

Nvidia (NVDA) is expected to release its fiscal fourth quarter earnings results at the end of the trading day on Wednesday.