Moonshot unveils Kimi K3 at China AI summit, markets tumble
Business
Moonshot, a Chinese AI startup, just dropped its Kimi K3 model, and it's making waves everywhere. The model is set to rival big names like OpenAI and Anthropic, and investors are calling this the "Kimi moment."
Right after the launch at China's top AI summit, tech stocks took a hit: Asia's semiconductor index fell over 6%, and Nasdaq 100 futures slipped by 2%.
Kimi K3 2.8T params 1 million-token window
Kimi K3 packs some serious power with 2.8 trillion parameters and a 1-million-token context window, beating Anthropic's Opus 4.8 in some tests.
It's competitively priced too, signaling that cost isn't the only game anymore.
Investors worry this could shift spending from US to Chinese AI models: shares of Z.AI dropped 28% and MiniMax Group fell 16%.