Editor's Note: The AI community has been abuzz with excitement over DeepSeek-R1, a new open-source model developed by a Chinese startup. Its competitiveness in the global AI race took the world by surprise as it outperforms other models at a much lower cost. How powerful is this reasoning model? Why has DeepSeek shaken up the tech world so dramatically? In this edition of The Hub, Wang Guan talks to Angela Li, chair of the China Development Forum at the LSE Students' Union, to Thorsten Jelinek, Europe director and senior fellow at the Taihe Institute, to Andy Mok, senior research fellow at the Center for China and Globalization, and to Gai Keke, professor at the School of Cyberspace Science & Technology at the Beijing Institute of Technology, to discuss if DeepSeek's rise has brought a "Sputnik moment" and how it has challenged Western-centric perceptions while shattering U.S. preconceptions about China's homegrown innovation.