ASML Holding NV surged the most since 2020 after booking orders worth twice as much as analysts expected, as the artificial intelligence boom fuels demand for its chipmaking machines.

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.

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

I reiterate a 'Buy' rating for ASML with a one-year target price of US$864 per share, driven by AI's continued growth.

ASML’s market capitalization fell by more than 19 billion euros on Monday on concern that a new AI model by Chinese start-up DeepSeek (深度求索) can provide comparable performance to Western chatbots at a fraction of the price. ASML makes machines needed to produce some high-end chips that the Chinese company is barred from purchasing.

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

Amid the market torment, DeepSeek has also sparked excitement. By offering powerful yet affordable open-source models, the startup could accelerate the spread of AI’s benefits across the world. For the sector’s established leaders, however, the landscape has been shaken.

ASML shares have bounced back from the impact of DeepSeek. ASML predicts that low-cost AI models will boost demand for the firm's machines.

Read more about these developments by accessing 30 Most Important AI Stocks According to BlackRock and Beyond the Tech Giants: 35 Non-Tech AI Opportunities.

Live Updates Make sure to refresh this page periodically for updates. Tesla Gains Fading 9:52 am While Tesla opened above $410 per share, gains are fading in early trading. As of 9:52 a.m. ET, shares are up .