Abstract: DeepSeek has disrupted the global AI landscape, demonstrating that high-performance models can be developed at a fraction of the cost of Western alternatives. This breakthrough has triggered a US$1 trillion stock market sell-off, raising critical investment, regulatory, and national security concerns. For Australia’s TMT and investment sectors, DeepSeek’s rapid rise presents both opportunities and risks. While lower AI costs could accelerate adoption across telecommunications, digital media, and automation, cybersecurity concerns are mounting. CyberCX has warned that DeepSeek may be subject to Chinese government control, and Australia, the US and the UK have all restricted access on government devices.