Moonshot's Kimi K3 helped trigger a global tech rout, but weak earnings and the Iran war did much of it. The real fear is US AI capex.

Moonshot's Kimi K3 AI model disrupts global markets, causing Alphabet's odds of being the second-largest company by market cap on July 31 to drop to 9.5% YES.

Moonshot AI's Kimi K3 model rattled global markets, sending rival AI stocks down as much as 27% while raising questions about AI sector valuations.