Tech Earnings Season Begins
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DeepSeek developmentsCNBC
•Technology
Technology
DeepSeek sets stage for frenetic tech earnings season
81% Informative
Tech earnings season kicks off on Wednesday , with reports from Meta , Microsoft and Tesla .
Nvidia 's stock price plummeted 17% on Monday , its steepest drop since the early days of the Covid pandemic in March 2020 .
Shares of chipmaker Broadcom , Oracle, Dell, Super Micro Computer and Hewlett-Packard Enterprise all saw steep declines.
The selloff wiped out almost $600 billion in market cap, the biggest one-day loss ever for a U.S. company.
Analysts see DeepSeek's rise as a positive development for Microsoft because of the possibility of lower capital expenditures.
Tesla CEO Elon Musk expressed doubt that the company's models were created on the reportedly low budget of under $10 million .
Musk has been ramping up AI spending as the company works toward building a fleet of self-driving cars.
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