European stocks went up a little on Tuesday, thanks to gains in utility and media companies. This comes after a big market drop the day before triggered by a Chinese AI startup called DeepSeek. As of 8:15 AM GMT, the overall European stock index, STOXX 600, rose by 0.2%.
Investors got worried when DeepSeek’s low-cost AI model became popular, leading them to sell technology stocks and rethink the high prices of major AI companies. Nvidia, a leading chipmaker, lost a huge $593 billion in value, which is the biggest one-day loss ever for any company. The European tech index, which had dropped earlier, bounced back slightly with a 0.3% increase.
In other news, Alten, an engineering and technology consulting company, saw its shares rise by 7.8% after sharing positive annual reports. Media stocks did well too, increasing by 0.8%, and utility stocks went up by 0.7%. Siemens Energy, which makes parts for wind turbines and AI tech, jumped 3.4% after revealing first-quarter revenue that beat expectations. The company had dropped 20% on Monday due to fears around AI-related stocks.
However, not all companies had a good day. Netcompany Group, an IT consulting firm, fell 16% after reporting fourth-quarter revenue that disappointed investors.
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