The Great DeepSeek Panic of January 2025 is officially over.

First, big tech shrugged it off, defying fears that the Chinese breakthrough on artificial-intelligence efficiency would provoke a pullback in Silicon Valley¡¯s spending plans. And now Nvidia has just about turned around its record-breaking losses from that fateful Monday nearly three weeks ago when it lost almost half a trillion dollars in value.

During Tuesday¡¯s trading, Nvidia¡¯s stock price rose above $143 a share ¡ª higher than it had been just before the DeepSeek selloff. The revival was made complete by the arrival of Grok-3, the latest chatbot from Elon Musk¡¯s xAI. It was presented on Monday night during an X livestream and came just days after Musk put in a trollish bid to buy rival OpenAI for $97.4 billion, which was summarily rejected by Sam Altman and the company¡¯s board.