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The DeepSeek Moment: How a Chinese Startup Outsmarted U.S. Sanctions
January 29, 2025 — In January 2025, Chinese AI startup DeepSeek unveiled its R1 model, a large language model that rivals leading AI systems like OpenAI's ChatGPT. The announcement triggered a significant market reaction, with major tech stocks experiencing substantial declines. Nvidia's shares plummeted nearly 18%, contributing to a broader tech selloff that wiped out approximately $1 trillion in market value.
In the first of a three-part webinar series presented by the Asia Society Policy Institute’s Center for China Analysis (CCA), titled China’s DeepSeek Moment, experts unpack the implications of this groundbreaking development for the global tech landscape and the ongoing U.S.-China technological rivalry.
Moderated by Lizzi C. Lee, CCA fellow on Chinese Economy, the discussion features Paul Triolo, CCA honorary senior fellow on Chinese Technology; Qiheng Chen, CCA affiliated researcher; and Jenny Xiao, partner at Leonis Capital. Jing Qian, CCA Co-Founder and Managing Director, gives introductory remarks. (39 min., 22 sec.)