Chinese startup DeepSeek published a research paper in which it claimed to have trained a large language model rivaling the performance of leading U.S. models, while spending much less money than U.S.

Meta Platforms and most other U.S. stocks are rising Thursday following a rush of profit reports from some of the country’s most influential companies, but drops for Nvidia and Microsoft are keeping the market in check.

Massive artificial intelligence spending supercharged its growth, but with Nvidia due to report earnings on Feb. 26, Wall Street suggests the semiconductor stock may soon hit a ceiling. Analysts have assigned a consensus one-year price target on NVDA stock of $164 per share. That implies only a 15% gain over the next 12 months.