Chipmakers in Asia and Europe rebounded on Wednesday after strong corporate earnings from Dutch group ASML added to the previous day’s rally in industry leader Nvidia.
The recovery came after US chipmaker Nvidia closed up nearly 9 per cent on Tuesday, recouping some of the heavy losses that wiped close to $600bn off its market capitalisation at the start of the week, when investors fretted over the threat from China’s DeepSeek to the US supremacy in artificial intelligence.
The emergence of DeepSeek, which promises to develop AI tools at a fraction of the cost of US rivals, has been called a contemporary “Sputnik moment”.
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