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 shares have bounced back from the impact of DeepSeek. ASML predicts that low-cost AI models will boost demand for the firm's machines.