Managers of Norway’s Government Pension Global Fund are resigned to living with tech’s high concentration risk but say stocks like Nvidia have some bubble protection due to this one factor.

Nvidia and other U.S. tech stocks are steadying a day after tumbling on doubts about whether the artificial-intelligence frenzy really needs all the dollars being poured into it. The S&P 500 was 0.2% higher in early trading Tuesday.

Shares of semiconductor makers were dropping early Monday as a Chinese AI model triggered questions over their lofty valuations.