One company that has been hit hard over the DeepSeek narrative is Nvidia (NASDAQ: NVDA). With the company scheduled to report fourth-quarter and full-year 2024 earnings on Feb. 26, investors are anxiously waiting to see just how much DeepSeek may affect Nvidia's business.

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

After an extensive wait, artificial intelligence (AI) appears to have answered the call. Software and systems are being empowered by AI to make decisions, reason, and evolve, all without the aid of human intervention.

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.