Ex-CEO of Intel, Pat Gelsinger, has come out praising China's new DeepSeek R1 model: also announces he's buying the dip with cheap NVIDIA shares.

The tech industry's reaction to AI model DeepSeek R1 has been wild. Pat Gelsinger, for instance, is elated and thinks it will make AI better for everyone.

Stock markets are slowly beginning to bounce back from Monday’s AI stock-driven selloff, as investors recover from their shock over the “Sputnik moment,” the discovery that China has an AI startup that can build large language models much,

Nvidia's share price fell some 17 percent on Monday, wiping $600 billion off of the GPU company's valuation. The world's most valuable corporation saw its share price plummet on the release of DeepSeek's latest model, which proved that it was possible to train efficient models using fewer GPUs.

Nvidia ( NVDA -3.12%), a leading semiconductor company, has seen its share price soar 500% over the past three years, pushing its market cap up to a staggering $3.6 trillion. While Apple was the largest company by market cap earlier this year, as I write this, Nvidia holds the spot.