Computer chip equipment maker ASML's CEO on Wednesday made the case that the advent of efficient AI models such as one China's DeepSeek has launched is a net positive for chip markets. Christophe Fouquet said that perceptions of AI spending are skewed by the massive investments being made by "hyperscalers" - companies such as Google,

ASML Holding NV brushed off concerns about the artificial intelligence-driven demand for its chipmaking machines after Chinese startup DeepSeek’s low-cost chatbot roiled markets earlier in the week.

DeepSeek prompted a major sell off of tech stocks this week, but ASML's chief says the artificial-intelligence upstart could boost the chips sector in the longer term. Tech stocks—including ASML—fell