Because Nvidia is still growing its revenue rapidly, using trailing earning metrics can give a false impression of where the company is headed. However, they're also useful in this case because its future had a wrench thrown into it thanks to DeepSeek's breakthrough.

The chip maker's shares are falling with the wider market after President Donald Trump says he intends to impose levies on imported semiconductors.

The emergence of a small Chinese artificial intelligence (AI) company called DeepSeek initially put a giant hole in the U.S. stock market. Tech stocks -- particularly those connected to the AI trend -- got crushed,