The tech giants are keeping capital spending plans in line as DeepSeek raises questions about future computing needs.

The S&P 500 was muted on Thursday as losses in tech heavyweights Microsoft and Nvidia countered earnings-led gains for Meta and Tesla, while investors parsed a slew of corporate earnings a day after the U.

Optimists looking for an encore performance from Wall Street were handsomely rewarded in 2024. Last year, the Dow Jones Industrial Average, S&P 500, and Nasdaq Composite all achieved multiple record-closing highs and ended higher by 13%, 23%, and 29%, respectively.

OpenAI CEO Sam Altman announced a technological milestone on Friday, revealing the deployment of NVIDIA Corp.'s first full 8-rack GB200 NVL72 system on Microsoft Corp.'s Azure platform, marking a major advancement in the companies' strategic partnership.

Retail investors bought a net $562 million of Nvidia stock on Monday, the largest single-day inflow in at least 10 years, VandaTrack said.

The tech giant’s revenue was up 12 percent to $69.6 billion, but investors are showing their nerves after a long boom for tech stocks.

Data center technology spending skyrocketed 34 percent in 2024, according to Synergy Research Group. It is soaring past a half a trillion dollars in the first month of 2025 as banks and technology vendors vie to build out massive AI compute.

Microsoft, MSFT, CEO Satya Nadella is expected to talk about DeepSeek, Stargate, Azure, Copilot, AI, GenAI and more on the tech vendor’s 2Q 2025 earnings call.

In its own research, DeepSeek said it had “distilled” models from its R1 system based on other open-source systems. Unlike OpenAI’s closed systems, some models such as Meta’s Llama are open-source and freely available for use.

In what marks the largest single-day drop in stock market history, Nvidia's valuation has been hit by China's answer to ChatGPT.

The superstar run for Nvidia’s stock the last few years has been astonishing. So was its tumble Monday, which caused $595 billion in wealth to vanish.