Investors rallied behind International Business Machines’ artificial-intelligence strategy, driving the stock up after the company released its latest quarterly earnings Wednesday. The tech company said it has taken an open-innovation approach to artificial intelligence,

In a statement, IBM CEO Arvind Krishna said the company has recorded $5 billion in bookings for its generative AI business.

Nvidia climbed 8.8%, with the rally gaining steam throughout the day and closing near session highs. The stock at one point shortly after the open was in the red. That bounce come

When OpenAI released ChatGPT in 2022, companies started spending billions on GPUs to train AI models. Nvidia led the market for graphics processing units (GPUs), so it was the right company at the right time to deliver monster returns to investors.

the chip maker saw its market value drop by $593 billion, the biggest one-day drop for any listed company on record.

Broadcom’s business relies heavily on their networking products, which are crucial for data transfer in AI systems. If the market for premium AI chips experiences a downturn, amid the rise of DeepSeek, it could create a domino effect, potentially hurting sales of Broadcom’s supporting technologies and components.

It’s impossible to look at the Chinese artificial intelligence startup DeepSeek’s new AI model without comparing it against OpenAI, the dominant American rival.DeepSeek has touted its latest AI model,