Shutterstock The firm concluded that the DeepSeek selloff is a buying opportunity, and maintained Nvidia as a "Top Pick" with an overweight rating and $152 price target on the shares. While Morgan acknowledged that DeepSeek creates some headwinds around export controls and longer-term investment and that sentiment on Nvidia has worsened around potential longer-term risks,

Nvidia was gaining early on Wednesday after Google-parent Alphabet committed to spending on artificial-intelligence infrastructure and rival Advanced Micro Devices’ AI chip revenue disappointed. Nvidia shares were up 0.

AMD stock is down as the AI chipmaker beat Wall Street expectations for its top and bottom line numbers, but fell short on data center sales.