The company posted orders well above analysts’ expectations for the fourth quarter as chip makers scrambled to get their hands on machinery to produce increasingly sophisticated semiconductors.

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,

China's DeepSeek has panicked investors in top AI stocks after it said its new model was built with less computing power than would be expected.

Global chip stocks slumped Monday on DeepSeek revealing it had developed AI models that nearly matched American rivals despite using inferior chips.