Chip stock earnings mixed, Nvidia nears four-month low

A mixed picture was seen in semiconductor stocks, as China's new AI tool DeepSeek has continued to shake up the sector.

Dutch semiconductor equipment maker ASML's shares surged more than 5 percent on Wednesday following the release of stronger-than-expected 2024 financial results, rebounding followed a plunge in the company's market value on Monday, as DeepSeek's AI technology sent ripples through the semiconductor market.

Speaking at a press conference on ASML's 2024 financial results, CEO Christophe Fouquet underscored that the continued expansion of AI depends on lowering costs and energy consumption, which are two critical challenges facing the industry.

In the United States, chip stocks mostly fell. Nvidia lost 6-percent after a short rebound on Tuesday.

The company's shares were trading slightly over 120 U.S. dollars, down over 13-percent from last week.

DeepSeek-R1, a new open-source model developed by the Chinese startup DeepSeek, was launched on Jan 20, and overtook OpenAI's ChatGPT on Apple's App Store downloads list.

DeepSeek is shaking up the AI industry with cost-efficient large language models which can perform just as well as rivals from giants like OpenAI and Meta.

Chip stock earnings mixed, Nvidia nears four-month low

Chip stock earnings mixed, Nvidia nears four-month low

Chip stock earnings mixed, Nvidia nears four-month low

Chip stock earnings mixed, Nvidia nears four-month low

Chip stock earnings mixed, Nvidia nears four-month low

Chip stock earnings mixed, Nvidia nears four-month low

Chip stock earnings mixed, Nvidia nears four-month low

China is willing to provide humanitarian assistance to Cambodia to help resettle displaced people in border areas, Chinese Foreign Minister Wang Yi said on Sunday in Yuxi, southwest China's Yunnan Province.

Wang, also a member of the Political Bureau of the Communist Party of China Central Committee, made the remarks during a meeting with Prak Sokhonn, Cambodian Deputy Prime Minister and Minister of Foreign Affairs and International Cooperation.

Following the signing of a joint statement agreeing to a ceasefire, the Cambodian and Thai foreign ministers are leading delegations meeting in Yunnan from Dec. 28 to 29 at Wang's invitation.

China has been closely following the tense situation on the Cambodia-Thailand border and remains committed to facilitating peace through talks, Wang said, adding that China congratulates both sides on reaching a ceasefire agreement.

The ceasefire marks the beginning of peacebuilding, Wang said, calling on the two sides to proceed in a phased and measured approach to promote a comprehensive and lasting ceasefire, restore normal interactions, rebuild mutual trust, achieve turnaround in bilateral relations, and uphold peace and stability in the region.

He said that both countries can make good use of this face-to-face opportunity for diplomatic and military representatives to engage in dialogue and communication in a flexible manner, enhance mutual understanding, and build mutual trust. He also expressed hope that all sides would jointly send a message of peace from Yunnan, reach a consensus on peace, and demonstrate prospects for peace.

China supports ASEAN in playing its due role and stands ready to provide assistance to the ASEAN observation mission in monitoring the ceasefire, Wang said.

He added that China also hopes Cambodia will continue to enhance protection for Chinese citizens and projects in the country.

Cambodia highly values China's positive role in mediating the conflict, said Prak Sokhonn, citing the informal tea gathering among the foreign ministers of Cambodia, China and Thailand in Anning, Yunnan Province, as well as shuttle diplomacy conducted by China's special envoy.

Thanks to the joint efforts of China and other parties, Cambodia and Thailand were able to convene a meeting of the Joint Boundary Commission, and their militaries signed a ceasefire agreement, he said.

Sokhonn said Cambodia is ready to work with Thailand to fully implement the ceasefire agreement, make full use of existing dialogue mechanisms, and steadily build mutual trust between the two countries and their armed forces.

These steps, he noted, are vital to restoring bilateral exchanges, normalizing relations, and resolving the boundary issue at an early date.

Cambodia hopes for the early arrival of peace and expects the trilateral meeting to help rebuild lasting stability, he said.

The two sides also exchanged views on China-Cambodia relations, agreeing that under the strategic guidance of the leaders of the two countries, positive progress has been made in building an all-weather Cambodia-China community with a shared future in the new era.

The Cambodian side expressed gratitude for China's support and assistance to its development, describing China as its most reliable and trusted partner. It reaffirmed its adherence to the one-China principle, its opposition to Taiwan secessionism, and its support for China's reunification cause.

China will deliver humanitarian aid to Cambodia for displaced people along border: Chinese FM