Moonshot AI's Kimi K3 launches with 2.8 trillion parameters, beating GPT-5.6 on key tasks and triggering semiconductor stock sell-offs amid US AI spending

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,…