The Direxion Daily NVDA Bull 2X Shares ETF (NVDU) surged 16.69% to close at $79.77 on January 28th, as Nvidia's stock rebounded 8.27% to $128.21 following a historic drop. Nvidia's recovery was fueled by the company's positive response to DeepSeek's AI advancements, which initially sparked fears of reduced demand for Nvidia's chips. Nvidia's acknowledgment of DeepSeek's models as a significant AI innovation has been interpreted as an opportunity for increased demand for its GPUs and networking products. This sentiment was echoed by J.P. Morgan, which reiterated its Overweight rating on Nvidia, and by retail investors who engaged in significant dip-buying activity. The broader tech sector also saw a recovery, with Nasdaq futures rising and investors pouring $4.3 billion into the Invesco QQQ Trust Series 1.