BUZZ-Aussie uranium miners slide as DeepSeek-sparked AI rout trickles down supply chain

Shares of Australian uranium miners Paladin Energy PDN.AX, Boss Energy BOE.AX and Deep Yellow DYL.AX fall 10.4%, 11.2% and 16.7% respectively

DYL, BOE and PDN are the top three losers on the ASX 200 benchmark .AXJO, which is largely flat as at 0427 GMT

Globally AI stocks, including Nvidia NVDA.O, were hammered after DeepSeek's low-cost, low-data AI assistant challenged a widespread notion that AI will drive demand along a supply chain from chipmakers to data centres

Uranium was seen as the green energy for AI and data centers and now they are getting hit on DeepSeek update, says Mathan Somasundaram, CEO at Deep Data Analytics

However, Somasundaram believes the market is wrong and that the new Chinese AI will end up drive even more demand for AI, resulting in demand for data centers and, hence, more energy