06:59 AM EST, 01/28/2025 (MT Newswires) -- Nvidia ( NVDA ) shares saw record retail purchases of $562.2 million following a 17% drop in stock price, fueled by concerns about a low-cost AI model from Chinese startup DeepSeek, Reuters reported Tuesday, citing Vanda Research data.

The selloff wiped $593 billion from Nvidia's ( NVDA ) market value, but retail investors have consistently bought its shares, with $7.3 billion purchased in the last quarter, nearly half the peak recorded in September 2024, the report said.

Global technology stocks have regained some stability but remain under pressure as investors reassess the high valuations of AI-focused companies, the report said.

Nvidia's ( NVDA ) dominance in the AI sector has been called into question following the launch of DeepSeek's low-cost model, the report added.

Nvidia ( NVDA ) did not immediately respond to MT Newswires' request for comment.

Shares of Nvidia ( NVDA ) were up more than 5% in recent Tuesday premarket activity.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)