European Chip Stocks Follow Asia Lower Amid AI Worries

Dow Jones09-14 15:50

0749 GMT - European chip stocks open sharply lower, tracking declines in Asia, after the leaders of some of the biggest AI companies said that they needed to slow development of the technology. Shares in Dutch supplier of chip-making equipment ASML Holding fall 4.2%, while those of smaller peers ASM International and BE Semiconductor Industries both shed more than 6%. German chipmaker Infineon Technologies drops 6.2%, and Milan-listed shares in STMicroelectronics are down 4%. Other suppliers to the chip industry, such as France's Soitec and Germany's Aixtron, fall 12% and 7.6%, respectively. While the AI lab leaders fell short of calling for a pause in development, their comments represent one of the clearest acknowledgements yet from within the industry that there might be limits to how fast capabilities can responsibly advance, strategists at Deutsche Bank say in a note.

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