Nasdaq president Nelson Griggs and Strategas head of ETFs Todd Sohn sit down with CNBC's Bob Pisani on "ETF Edge" to discuss how big tech reacted to China's DeepSeek AI as the Nasdaq 100 index celebrates its 40th anniversary.

Chinese startup DeepSeek has debuted an AI app that challenges OpenAI's ChatGPT and other U.S. rivals, sending a shock through Wall Street.

The S&P 500 and the Nasdaq hit over one-week lows, as the surging popularity of a low-cost Chinese artificial intelligence model DeepSeek knocked shares of chipmaker Nvidia and other companies benefiting from investments into the technology.