Rebounding tech stocks drove U.S. indexes higher a day after they tumbled on doubts about the artificial intelligence frenzy.

Rebounding tech stocks drove U.S. indexes higher Tuesday, a day after they tumbled on doubts about whether the artificial-intelligence frenzy really needs all the dollars being poured into it. The S&P 500 climbed 0.

Entrepreneur Marc Andreessen, known for co-writing Mosaic, one of the world’s first web browsers, wrote Sunday on X that “DeepSeek R1 is AI’s Sputnik moment,” likening it to the space race between the U.S. and the Soviet Union and the event that forced the U.S. to realize that its technological abilities were not unassailable.

Technology stocks regained some ground on Tuesday with chipmaker Nvidia up about 2.5% in early trading, a day after it suffered the biggest one-day market capitalization loss in history, and traders moved back out of safe-haven currencies into the dollar.