Nvidia (NASDAQ: NVDA) made stock market history on Monday, Jan. 27, but not the good kind. The chipmaker saw its share price decline 17%, due to concerns about an artificial intelligence (AI) model from Chinese start-up DeepSeek.

Other technology stocks trading at relatively low valuations to historical levels include Micron, Super Micro and Workday.

Retail investors bought a record amount of Nvidia stock on Monday after concerns over a low-cost artificial intelligence model from Chinese startup DeepSeek stripped 17% off its shares, or $593 billion from its market value.

He told CNBC: "My understanding is that Deepseek has about 50,000 H100s, which they can't talk about obviously because it is against the export controls that the U.S. has put in p

Although it was initially thought that DeepSeek was using Nvidia’s lower-performing H800 chips, Wang confirmed that the startup is leveraging the banned H100 chips.

Nvidia on Monday said Chinese AI firm DeepSeek's advances show the usefulness of its chips for the Chinese market and that more of its chips will be needed in the future to meet demand for DeepSeek's services.