Without addressing the specifics of DeepSeek’s model, ASML CEO Christophe Fouquet told CNBC he sees no sign of a slowdown in demand for AI chips.

The artificial intelligence boom is a two-edged sword for $290 billion ASML . Shares in the Dutch maker of lithograph machines used to make chips soared by 8% on Wednesday thanks to booming demand from semiconductor manufacturers such as TSMC .

Data from Meta's AI model also appears to have been used in DeepSeek. Chinese e-commerce giant Alibaba Group Holding Ltd – ADR (BABA) has introduced an AI model that is better than both OpenAI's model and DeepSeek's model.

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.