European shares closed at a record high on Wednesday, boosted by technology stocks following strong results from chip equipment maker ASML, while investors shifted their focus to a monetary policy verdict by the U.

European tech stocks have bounced back far more quickly than their U.S. counterparts following the DeepSeek AI rout. The pan-European Stoxx 600 Tech index jumped more than 3% Wednesday, climbing above its Friday closing level–before the Chinese startup’s AI developments spooked markets.

Shares of ASML jumped 10.6% after the Dutch company reported better-than-expected fourth-quarter bookings of 7.088 billion euros ($7.39 billion). Its peers ASM International, BE Semiconductor and Infineon gained between 2.7% and 7.5%. Technology was the top winning sector, soaring 4.5%.