Nvidia was gaining early on Wednesday after Google-parent Alphabet committed to spending on artificial-intelligence infrastructure and rival Advanced Micro Devices’ AI chip revenue disappointed. Nvidia shares were up 0.

Advanced Micro Devices (NASDAQ: AMD), and Micron Technology (NASDAQ: MU) plunged on news that a Chinese start-up called DeepSeek had figured out how to train artificial intelligence (AI) models for a fraction of the cost of its American peers.

By Kanchana Chakravarty and Zaheer Kachwala (Reuters) -Advanced Micro Devices shares tumbled 8% on Wednesday after the company's AI chip revenue failed to meet analysts' high expectations, underscoring its struggle to grab market share from well-entrenched market leader Nvidia.

Key Takeaways Nvidia and Broadcom shares surged Wednesday after Google parent Alphabet, a customer of both chipmakers, said it plans to ramp up spending on artificial intelligence. Alphabet said Tuesday that it plans to spend as much as $75 billion in capital expenditures this year,