Japan chip stocks extend losses as DeepSeek worries fuel Wall Street tech rout [CNBC]
TOKYO ELECTRON UNSP/ADR (TOELY)
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Source: CNBC
“DeepSeek is a risk to the U.S. exceptionalism narrative, further questioning the ‘Magnificent 7' dominance,” Citi analysts wrote in a note. Shares in Japan's chip-related companies extended declines for a second day as Chinese startup DeepSeek's AI competitiveness calls into question the United States' leadership in the field. Semiconductor testing equipment supplier Advantest slid over 10%, Tokyo Electron fell 3.6%, while Renesas Electronics traded 2.29% lower Tuesday. Softbank Group , which owns chip designer Arm, slid 5.26%. Data center-related shares also continued to take a hit, with wire and cable firms Furukawa and Fujikura dropping 8.22% and 8.1%, respectively. DeepSeek released a free, open-source large language model in late December, claiming it was created in only two months with a budget of under $6 million . Last week, the lab introduced R1, a reasoning model that outperformed OpenAI's latest o1 in several third-party tests. “There will be a lot more pain to
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