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.

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 .

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.

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

ASML's valuation reflects potential for substantial growth and profitability, making it attractive at current levels. Click here to find out why ASML stock is a Buy.

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

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

Investors will seek reassurance that ASML's AI-dependent growth outlook for 2025 is secure despite a selloff sparked by China's DeepSeek, as the biggest supplier of equipment used to make computer chips ASML reports earnings on Wednesday.

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

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