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Indonesia News Portal for Traders | Financial & Business Updates

28 January 2025 00:34  |

European tech shares tumble as China's AI push spooks investors

European tech shares came under pressure on Monday, after Chinese tech startup DeepSeek's low-cost artificial intelligence model sparked worries about returns in the AI business and the need for costly chips.

The pan-European STOXX 600 dropped as much as 0.8% earlier in the day, tracking a global market sell-off on concerns about AI investment and tech sector valuations, after DeepSeek rolled out a free assistant that it says uses lower-cost chips and less data.

European tech stocks slid 3.4% and were on track for their biggest daily drop since October, with chip equipment maker ASML dropping 7% to touch a two-month low and ASM International (ASMI.AS), opens new tab slumping more than 12%.

Source: Reuters

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