Shutterstock The firm concluded that the DeepSeek selloff is a buying opportunity, and maintained Nvidia as a "Top Pick" with an overweight rating and $152 price target on the shares. While Morgan acknowledged that DeepSeek creates some headwinds around export controls and longer-term investment and that sentiment on Nvidia has worsened around potential longer-term risks,

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.