Moonshot AI targets a Hong Kong IPO at a $20-30 billion valuation as its Kimi K3 model outperforms US rivals, triggering sell-offs in tech stocks and

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

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.

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

Moonshot AI's latest model is impressing developers with its coding skills, low API costs, and open-weight strategy.