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.

Kimi K3's early performance is fueling alarm in Silicon Valley and Washington.

“K3 stands as Moonshot AI's most powerful open-source coding model to date,” Moonshot AI wrote in a press release.

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,…

Kimi's K3 model has caught up to the American frontier.

Chinese start-up Moonshot AI’s new Kimi K3 boasts a performance close to OpenAI and Anthropic’s latest models.