The chip company that’s become the symbol of the AI frenzy spent most of Thursday lower but ended with a gain of 1% and was one of the strongest forces lifting the S&P 500.
“DeepSeek had some real innovations,” he said, adding that it is good to have efficiency gains and lower prices in AI development because it “means people can consume more and there’ll be more apps written.”.
The Redmond, Washington-based software giant topped analysts’ expectations for profit in the latest quarter, but the focus was instead on the slower-than-expected growth in its cloud computing business, which is a centerpiece of its AI efforts.
Asia markets are mostly higher on Friday following gains on Wall Street driven by Tesla, IBM and Meta Platforms after strong profit reports.
The Kospi in South Korea fell 1.4% to 2,501.83 as trading resumed on Friday after the holidays, during which Chinese startup DeepSeek stirred panic in the AI world.
