The broader technology selloff that saw shares of Nvidia (NVDA) plummet intraday Monday presents a rare opportunity to buy into an industry that's expected to dominate artificial intelligence despite potential competition fears from Chinese startup DeepSeek, Wedbush Securities said.

The Chinese private tech company launched a large language model last week that Wedbush analysts including Daniel Ives said "rivals OpenAI's ChatGPT" and LLama 3.1 from Meta (META). The AI assistant surpassed ChatGPT as the top-rated free app on Apple's (AAPL) App Store in the US over the weekend, Reuters reported.

"Clearly tech stocks are under massive pressure led by Nvidia as the Street will view DeepSeek as a major perceived threat to US tech dominance and owning this AI Revolution," the analysts wrote in a research note. Shares of Nvidia tumbled 13% in Monday trade.

Other decliners included OpenAI investor Microsoft (MSFT), down nearly 3%, as well as chipmakers Broadcom (AVGO) and Arm Holdings (ARM), down about 13% and 9.1%, respectively.

While Wedbush called the DeepSeek technology impressive, it doesn't believe that the company will ultimately derail the US industry's path to artificial general intelligence dominance. The AI infrastructure and ecosystems of China, and especially DeepSeek, "cannot come close" to US capabilities, Ives said.

The technology, which DeepSeek developed in two months at a cost of less than $6 million, hasn't launched with 100-times the capacity and algorithms needed to "even consider this a competitive threat," he said.

This creates a unique opportunity to own Nvidia, Microsoft, Alphabet (GOOG, GOOGL), Palantir (PLTR), Salesforce (CRM) and Amazon (AMZN), according to the brokerage.

"The bears have missed the historical rally in tech stocks the last two years and will miss the next two years constantly waiting for the black swan event to end the AI Revolution trade," Ives said.