European AI-exposed stocks fall after China's AI push

Atlas Copco AB

27/01/2025 08:29

** Shares in European AI-exposed names fall on Monday in
wider market rout over concerns about AI spending after China's
DeepSeek launched discount artificial intelligence model 
    ** European tech stocks  .SX8P  were down 4.3% to
mid-January lows at 0821 GMT, falling the most among Europe-wide
indices 
    ** Dutch computer chip equipment maker ASML  ASML.AS  and
its peers ASM International  ASMI.AS , BE Semiconductor
 BESI.AS  slumped between 9% and 10%
    ** Infineon  IFXGn.DE  was down 4%, STMicroelectronics
 STMPA.PA  around 2%
    ** Germany's Siemens Energy  ENR1n.DE  plummeted around 20%,
wiping off recent gains; ABB  ABBN.S  was down 6%
    ** Schneider Electric  SCHN.PA , a major supplier of
electrical equipment and other infrastructure behind data
centres, was down around 8%
    ** Atlas Copco  ATCOa.ST , which delivers components to
semiconductor groups like AMSL, was down 5%
    ** Italian cable maker Prysmian  PRY.MI  fell around 7%

 (Reporting by Anna Pruchnicka)
 ((anna.pruchnicka@tr.com))