Aussie uranium miners slide as DeepSeek-sparked AI rout trickles down supply chain

DEEP YELLOW

28/01/2025 04:46

** Shares of Australian uranium miners Paladin Energy
 PDN.AX , Boss Energy  BOE.AX  and Deep Yellow  DYL.AX  fall
10.4%, 11.2% and 16.7% respectively
    ** DYL, BOE and PDN are the top three losers on the ASX 200
benchmark  .AXJO , which is largely flat as at 0427 GMT
    ** Globally AI stocks, including Nvidia  NVDA.O , were
hammered after DeepSeek's low-cost, low-data AI assistant
challenged a widespread notion that AI will drive demand along a
supply chain from chipmakers to data centres
    ** Uranium was seen as the green energy for AI and data
centers and now they are getting hit on DeepSeek update, says
Mathan Somasundaram, CEO at Deep Data Analytics 
    ** However, Somasundaram believes the market is wrong and
that the new Chinese AI will end up drive even more demand for
AI, resulting in demand for data centers and, hence, more energy
    

 (Reporting by Sneha Kumar in Bengaluru)
 ((Sneha.Kumar@thomsonreuters.com;))