The GraniteShares 2x Long NVDA Daily ETF (NVDL) closed on January 28th at $56.88, marking a 17.5% increase as Nvidia shares rebounded 8.27% to $128.21. Nvidia's recovery follows a sharp decline triggered by concerns over DeepSeek's cost-effective AI model, which initially raised fears about reduced demand for Nvidia's high-powered chips. However, Nvidia's response, viewing DeepSeek's innovation as a positive development, helped alleviate investor concerns. The company sees potential in DeepSeek's model to drive demand for its GPUs, particularly in the inference phase of AI model scaling. Retail investors also capitalized on the dip, with record buying activity reported. The market's reaction underscores Nvidia's resilience and continued leadership in AI technology, despite competitive pressures.