Artificial intelligence (AI) is one of those transformational technologies that's hard to miss. Every technology company talks profusely about it on its earnings calls, and if any one of them is behind its competitors,

The popular phrase "reports of my death are greatly exaggerated," an adaptation of a famous Mark Twain quote, is a terrific way to describe Nvidia (NASDAQ: NVDA) after the DeepSeek bombshell (more on this below) sank its stock more than 20%.

Thanks to its market positioning and DeepSeek's recent breakthrough, Qualcomm could emerge as a top AI stock. Admittedly, losing Huawei was a significant setback, and Apple dropping Qualcomm as a supplier could signify the loss of a critical competitive advantage.