Thanks to its market positioning and DeepSeek's recent breakthrough, Qualcomm could emerge as a top AI stock. Admittedly, losing Huawei was a significant setback, and Apple dropping Qualcomm as a supplier could signify the loss of a critical competitive advantage.

An Evercore analyst expects an upbeat earnings report later this month and runs down why DeepSeek fears seem overdone.

Over the past year, a number of semiconductor stocks have witnessed meteoric gains thanks to ongoing euphoria surrounding artificial intelligence (AI). The share prices of Nvidia, Taiwan Semiconductor Manufacturing,

Nvidia is likely to be closely watching developments around ChatGPT-developer OpenAI after a consortium headed by Elon Musk offered almost $100 billion for the nonprofit.