Kimi K3 dropped two days ago and my timeline hasn't stopped talking about it. But the actual numbers...

Kimi is launching K3, a multimodal open-weight model with 2.8 trillion parameters and one million tokens of context. In the company's own benchmarks, it comes close to Claude…

Kimi K3 is real: 2.8T params, 1M context, and a $3/$15 API. I ran the cost math and found the bigger catch is output verbosity.