Nvidia shares' 9% recovery Tuesday was the second-best day in terms of market cap added for any company ever, trailing only a record it set in July.

Alibaba claims that its Qwen2.5-Max artificial intelligence model outperformed its rivals at OpenAI, Meta and DeepSeek.

Alibaba says it's new artificial intelligence model is superior to DeepSeek. It says the Qwen 2.5 Max edition scored better than Meta Platforms Inc.’s Llama and DeepSeek’s V3 model in various tests. Matthew Bloxham of Bloomberg Intelligence is on ".

DeepSeek released an open-source artificial intelligence model in December, saying it took only two months and less than $6 million to create it.

Silicon Valley and Washington leaders said the app shows China can challenge the U.S. The Nasdaq lost 3 percent and chipmaker Nvidia shed $589 billion in market capitalization.