Chinese companies are ramping up orders for Nvidia's H20 artificial intelligence chip due to booming demand for DeepSeek's low-cost AI models, six people familiar with the matter said. The surge in orders,

Tencent, Alibaba and ByteDance are said to have significantly increased orders of the H20 since DeepSeek gained global attention.

DeepSeek majorly impacted Nvidia last month: its market cap dropped by $600B in one day. The chip giant will respond on this week's investors' call."

Demand for Nvidia's pricey artificial intelligence chips will be in focus when the company reports results on Wednesday as investors doubt the hefty spending on the technology after low-cost AI models from China's DeepSeek rattled the industry.