Shares of Nvidia (NASDAQ: NVDA) gained ground on Wednesday, climbing as much as 5%. As of 12:42 p.m. ET, the stock was still up 4.4%. The catalyst that sent the artificial intelligence (AI) chipmaker higher was news that strong demand for its processors will likely continue.

Advanced Micro Devices (AMD 4.58%), and Micron Technology (MU 0.82%) plunged on news that a Chinese start-up called DeepS

Tesla was particularly battered as it joined Apple (-3%) and Nvidia (-3%), as American multinational companies with the highest proportion of sales in China.

Nvidia was gaining early on Wednesday after Google parent Alphabet committed to spending on artificial-intelligence infrastructure and rival Advanced Micro Devices’ AI chip revenue disappointed. Nvidia shares were up 3.