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.

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.

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

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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.

DeepSeek’s much-hyped low-cost AI revolution could be a positive for companies supplying the tools for furthering the technology’s adoption,

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 Holding (NASDAQ:ASML) is rocketing higher on strong earnings. Up about $38 a share, the Dutch semiconductor giant reported a substantial jump in fourth quarter net bookings, which tells us demand for its chipmaking tools is still strong.