Shares in ASML have bounced back from the hit inflicted by DeepSeeks AI advances.
The tools produce the most advanced semiconductors in the world and ASML is the only company that manufactures them.
This dominant position has made ASML the second most valuable tech firm in Europe.
But the business wasshaken on Mondayby DeepSeeks rapid AI progress.
The results sent tech stocks spiralling.
Nvidia set an alarming precedent, suffering the largest rout inmarket history.
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Shares in ASML slumped by as much as 12%.
But the company has been reinvigorated by strong results from 2024.
The firm reported total annual sales of 28.3bn just above its forecast of 28bn.
Christophe Fouquet, ASMLs CEO, expects demand for the companys machines to grow.
Hetold CNBCthat the business will benefit from rise of low-costAImodels developed by the likes of DeepSeek.
A lower cost of AI could mean more applications,Fouquetsaid.
More applications means more demand over time.
We see that as an opportunity for more chips demand.
Story byThomas Macaulay
Thomas is the managing editor of TNW.
He leads our coverage of European tech and oversees our talented team of writers.
Away from work, he e(show all)Thomas is the managing editor of TNW.
He leads our coverage of European tech and oversees our talented team of writers.
Away from work, he enjoys playing chess (badly) and the guitar (even worse).
