Meta Platforms and most other U.S. stocks are rising Thursday following a rush of profit reports from some of the country’s most influential companies, but drops for Nvidia and Microsoft are keeping the market in check.

Wall Street's main indexes rose on Thursday, driven by post-earnings advances in Meta and Tesla, although Microsoft's weak cloud forecast and downbeat results from Cigna dampened investor enthusiasm. Microsoft MSFT.O dropped 4.7% after forecasting disappointing growth in its cloud computing business.

In its own research, DeepSeek said it had “distilled” models from its R1 system based on other open-source systems. Unlike OpenAI’s closed systems, some models such as Meta’s Llama are open-source and freely available for use.

The Chinese startup DeepSeek shook up the world of AI last week after showing its supercheap R1 model could compete directly with OpenAI’s o1. While it wiped nearly $600 billion off Nvidia’s market value,

DeepSeek is the biggest story in AI since ChatGPT hit the market. It showed up out of the blue and beat out the best AI models on the market at a fraction of the cost. However, it’s mostly known for the controversies that are piling on.