Moonshot's Kimi K3, a 2.8 trillion-parameter open-weight AI model, triggered a selloff in AI and semiconductor stocks reminiscent of the 2025 DeepSeek

The FT reports Kimi K3 will be the largest open AI model from China, with a parameter count between 2 trillion and 3 trillion.

Moonshot AI released Kimi K3, a 2.8 trillion-parameter open-source AI model from China that rivals OpenAI, Anthropic and other top U.S. systems in frontier AI benchmarks.

Moonshot AI's Kimi K3 is the largest open-weight model ever released - 2.8 trillion parameters, a million-token memory, benchmark scores within touching distance of GPT-5.6 Sol,…