DeepSeek built a competing large language model (LLM) to OpenAI's ChatGPT, but claims that it trained the model with old Nvidia processors that aren't widely used anymore. This news has shellshocked technologists and analysts across Wall Street because if DeepSeek's methods of building highly capable AI can be done using legacy hardware,

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Perhaps no stock was more profoundly affected by the news from DeepSeek than Nvidia (NVDA -2.42%). In a sense, DeepSeek validated its dominance by announcing its H800 accelerators

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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.

DeepSeek sent shockwaves through the AI investing world when it announced that it trained its R1 generative AI model for less than $6 million. Even more impressive is that some of its capabilities are on par with other leading generative AI models like ChatGPT and Claude.

Doug and Lee talk about the likelihood of Nvidia having a dot-com-like valuation reset as more effective AI models challenge its supremacy, so perhaps changing AI infrastructure spending across the tech industry.