Many investors are worried about DeepSeek's latest breakthrough. Its Chinese developers claim to have trained a generative AI model that's on a par with many of the U.S. versions for under $6 million.

The ramifications of Chinese startup DeepSeek, with its promise of delivering cheaper, more energy-efficient alternatives to harness artificial intelligence, have yet to be fully reflected in U.S. equities. That’s the thinking of Don Townswick, director of equity strategies at Conning Asset Management, which oversees $170 billion in assets.

While the demand is there, it's clear that's not the sole reason why Nvidia's RTX 50 series is impossible to find in stores. Many retailers received fairly low stock quantities, as Nvidia reportedly experienced manufacturing issues.

Because Nvidia is still growing its revenue rapidly, using trailing earning metrics can give a false impression of where the company is headed. However, they're also useful in this case because its future had a wrench thrown into it thanks to DeepSeek's breakthrough.

A tariff tantrum. DeepSeek’s deep impact. The Philadelphia Eagles’ return to the Super Bowl. Investors have seen plenty to put them on edge so far in 2025.

The efficiency gains of DeepSeek’s AI models startled the power industry, which is set to invest billions in electricity projects.