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Perhaps no company embodies the promise of AI more than Nvidia.
Very quick story of Nvidia is that it used to make video game chips that gamers really liked.
It turned out those things were good for AI, and now it's one of the biggest companies in the world.
Joshua Brustein is a technology editor at Bloomberg Businessweek.
He's covered Nvidia's stunning rise and says the company is now on the cusp of its next chapter.
Nvidia is in a funny place because on the one hand it is in a great position.
It's very good at making these chips that everyone wants.
Microsoft, meta, Amazon,
pretty much all the big tech companies have collectively announced hundreds of billions of dollars of investment in AI.
And much of that investment will go straight to buying Nvidia's product.
In some ways, it's a dream position for a company.
But being at top also means there's a long way to fall.
Nvidia got a glimpse of what that could look like in late January when the Chinese AI startup Deepseek released its R1 chatbot.
Deep seats.
Developers say their model uses a fraction of the resources of American competitors.
That news rattled assumptions about how much computing power and how many Nvidia chips the AI revolution will actually need.
The main event yesterday, one single name, Nvidia.
Nvidia getting absolutely hammered in yesterday's session.
Down by 17%.