The CEO of Dutch chipmaking giant ASML warned investors they needed to get used to more DeepSeek-style “elephants in the room” as he projected optimism days after China’s surprise AI chatbot caused turmoil for Western tech stocks.

ASML Holding NV surged the most since 2020 after booking orders worth twice as much as analysts expected, as the artificial intelligence boom fuels demand for its chipmaking machines.

The company posted fourth-quarter orders well above analysts’ expectations as chip makers scrambled for machinery to produce increasingly sophisticated semiconductors.

ASML Holding N.V.'s complex, high-cost business model and reliance on a few partners are mitigated by secular trends and continuous R&D investment. Learn more on ASML stock here.

ASML's shares rose by more than 7% today and were up by 4.1% as of 11:03 a.m. ET.

Top computer chip equipment maker ASML has decided to stop publishing the most closely-watched figure in its quarterly financial results, new order bookings, saying it is too "lumpy" and leads to excessive volatility in its share price.

CEO Christophe Fouquet said the news of DeepSeek developing a large language model more efficiently should not affect chip equipment manufacturers. Read more here.

Chinese companies have made technological leaps that have surprised observers despite attempts by the US to stifle Beijing’s ambitions.

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,

The company posted fourth-quarter orders well above analysts’ expectations as chip makers scrambled for machinery to produce increasingly sophisticated semiconductors.

ASML chief executive says lower-cost AI models will boost chip demand. He doesn't see DeepSeek as a threat for AI hyperscalers either.