Asian technology stocks fell on Monday following concerns over global artificial intelligence investment and the impact of Chinese start-up DeepSeek.
Japanese chip companies Disco Corp and Advantest, an Nvidia partner, were down 2.6 per cent and 8.8 per cent respectively, while China’s leading chipmaker SMIC declined 2.9 per cent. Overnight trading in the US indicated that AI bellwether Nvidia was poised to open down on its Friday close.
The declines come as markets digested the unexpected advances by DeepSeek, which last week released its R1 — a rival to OpenAI’s ChatGPT generative AI model — casting doubt on Silicon Valley’s hefty AI capex spending and the sustainability of the US technical edge in artificial intelligence.