0030 GMT - Industrial property owner Goodman has long been a darling of investors, but its shares fall 7.1% today amid the global tech rout. Goodman is betting big on data centers globally as artificial intelligence and cloud computing booms. News that China's DeepSeek had trained a sophisticated AI model at a fraction of the cost of its Silicon Valley rivals has rattled investors in Goodman, which had risen more than 50% in value through last week. In a note, Citi says DeepSeek's advances may ultimately be positive for Goodman and other data-center stocks. "In our view, DeepSeek most likely drives further demand for data centers globally with advanced computational capabilities, high capacity storage, robust networking, energy efficient designs and infrastructure," the bank says. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
January 27, 2025 19:30 ET (00:30 GMT)
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