Technology stocks led gains in Asia-Pacific markets on Wednesday, tracking advances on Wall Street as investor angst ebbed over the emergence of a low-cost Chinese AI model that some see rivalling U.S.

US tech stocks were steady on Tuesday after they slumped on Monday following the sudden rise of Chinese-made artificial intelligence (AI) app DeepSeek. Shares in chip giant Nvidia rose by 8.8%, having slumped on Monday,

Broadcom’s business relies heavily on their networking products, which are crucial for data transfer in AI systems. If the market for premium AI chips experiences a downturn, amid the rise of DeepSeek, it could create a domino effect, potentially hurting sales of Broadcom’s supporting technologies and components.

OpenAI—which faces multiple lawsuits for using content without permission—accuses DeepSeek of 'distillation,' a technique that use larger models' outputs to improve smaller ones.

OpenAI has accused Chinese AI start-up DeepSeek of using its proprietary models to train an open-source competitor.